Polymarket is the largest decentralised prediction market platform by trading volume. Built on Polygon, it lets users buy and sell shares on the outcomes of real-world events — elections, economic indicators, geopolitical developments, and more. Each share represents a probability between 0¢ and $1, resolving to $1 if the event occurs and $0 if it does not.
This guide covers how the Polymarket trading platform works technically, what it costs to trade, how to get started, and how Polycopybot.app's copy trading layer adds automation on top.
What Is the Polymarket Platform?
Polymarket is a prediction market exchange — a financial platform where the traded asset is a binary outcome rather than a traditional security or commodity. Users express probabilistic views by buying YES or NO shares in a given market.
Key platform properties:
- Non-custodial — funds live in your wallet, not a platform account
- USDC-denominated — all positions and payouts in USDC on Polygon
- Public order book — full bid/ask depth visible via API
- On-chain settlement — trade matching is off-chain, settlement is on-chain
CLOB Architecture
Polymarket runs a Central Limit Order Book (CLOB) — the same matching model used by traditional financial exchanges. Users submit limit orders specifying a price and size; the operator matches compatible orders off-chain and settles them on-chain via a Gnosis Safe–based smart contract on Polygon.
This hybrid design delivers exchange-grade speed (orders matched in milliseconds) with on-chain security (settlement is transparent and tamper-proof). The on-chain contract also handles market resolution, distributing $1 per winning share to holders of the correct outcome.
Market Types
Polymarket hosts three broad categories of prediction markets:
| Category | Examples | Resolution Source |
|---|---|---|
| Politics | Election results, policy votes | Official results, AP/Reuters |
| Economics | CPI prints, Fed rate decisions | BLS, Fed announcements |
| Geopolitics / Events | Conflict developments, summits | UMA optimistic oracle |
Markets are proposed and created by the community, then reviewed by Polymarket's team. Resolution is handled by the UMA optimistic oracle, which allows disputes within a defined challenge window.
Fees & Costs
Polymarket's fee model is simple:
- Maker fee: 0% — limit orders that add liquidity pay no fee
- Taker fee: ~2% charged on winning trades at resolution
- Gas: ~0 — most operations use gasless meta-transactions, so Polygon gas costs are handled by Polymarket's relayer and effectively zero for users
The 2% fee is only charged on winning positions at resolution. If a trade is unprofitable or you exit before resolution, no fee applies to that portion.
Wallet Setup
Getting started on the Polymarket platform requires:
- A compatible wallet — MetaMask, Coinbase Wallet, or WalletConnect-compatible wallets
- USDC on Polygon — bridge from Ethereum mainnet or buy directly on Polygon via a fiat on-ramp
- Connect wallet on polymarket.com to generate your trading address
Polymarket creates a separate Polymarket sub-wallet derived from your main wallet signature. This is the address that appears in public trade history and that copy trading bots can follow.
Automation & Bots
Polymarket provides a fully documented public API for automation:
- REST API — place, cancel, and query orders; fetch market data and trade history
- WebSocket API — real-time order book updates and trade events (50–100ms latency)
- Delegated trading API — grant a bot operator key trade-only permissions without exposing your private key
The delegated trading API is the key safety mechanism for automated trading. It allows a bot to submit orders on your behalf while never having access to withdrawal permissions. You can revoke the delegation on-chain at any time.
Copy Trading on Polymarket
Copy trading adds an automated layer on top of Polymarket's API: instead of building your own signal, you follow wallets that have already demonstrated consistent positive returns over resolved markets.
Polycopybot.app connects to Polymarket via the delegated trading API and monitors over 200 high-performing wallets in real time. When a tracked wallet opens a new position, the bot mirrors it proportionally in your wallet within 340ms end-to-end.
Setup takes under 10 minutes: connect your wallet, grant delegated trade permissions, set your copy budget, and activate. No coding, no server to manage.
Automate Your Polymarket Strategy
Follow top-performing wallets automatically. Non-custodial, 340ms latency, no coding required.
Go to DashboardIs Polymarket a regulated trading platform?
Polymarket is a decentralised prediction market, not a traditional regulated exchange. It operates on the Polygon blockchain and is accessible globally, though users in some jurisdictions (including the US) are restricted by its terms of service.
What currency does Polymarket use?
Polymarket uses USDC on Polygon as its settlement currency. All markets, positions, and payouts are denominated in USDC.
What fees does Polymarket charge?
Polymarket charges a maker fee of 0% and a taker fee of approximately 2% on winning trades. There are no gas fees for most operations as Polymarket uses gasless meta-transactions on Polygon.
Can I automate trading on Polymarket?
Yes. Polymarket offers a public REST and WebSocket API plus a delegated trading API that allows bots to trade on your behalf without accessing your private key. Polycopybot.app uses this infrastructure to run automated copy trading.