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Polymarket

Polymarket is a cryptocurrency-based prediction market platform where users trade shares on the outcomes of real-world events.

By Ethan Anderson| Reviewed by Olivia Bennett, Standards & Fact-Checking Lead| Updated July 27, 2026|2 min read| Fact-checked

Polymarket is a cryptocurrency-based prediction market platform where users trade shares on the outcomes of real-world events. It launched in 2020 and is widely described as one of the largest prediction markets, with markets covering politics, sports, economics, crypto, weather, and culture.

Overview

Polymarket is a prediction market platform that allows users to buy and sell positions on future events. Market prices are used as a signal of the crowd’s belief about the probability of an outcome.

How it works

Users trade event-based shares, often structured as yes/no contracts. Trades are settled through blockchain-based smart contracts, and the platform is described as non-custodial.

History

Polymarket was founded in 2020 by Shayne Coplan. Public descriptions place its headquarters in Manhattan, New York City, and note its legal domicile in Panama.

Market coverage

The platform hosts markets on politics, elections, economics, sports, weather, technology, crypto, and culture. It is commonly described as one of the largest prediction markets.

Key facts

  • Polymarket lets users trade on the outcomes of real-world events through a prediction market model.
  • Its markets often use yes/no contracts, with prices reflecting the market’s implied probability of an event.
  • The platform is described as non-custodial, with trades settled through blockchain smart contracts.
  • It was founded in 2020 by Shayne Coplan.
  • Sources describe Polymarket as being built on the Polygon network and using USDC for trading.
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Canadian context

Polymarket is relevant to Canadian readers as a global crypto and forecasting platform that covers international politics, markets, and events that may affect Canada indirectly.

Frequently asked questions

What is Polymarket?
Polymarket is a cryptocurrency-based prediction market where users trade shares tied to the outcomes of real-world events.
When was Polymarket founded?
Polymarket was founded in 2020.
Who founded Polymarket?
Polymarket was founded by Shayne Coplan.
What blockchain does Polymarket use?
Sources describe Polymarket as operating on the Polygon network.
What kinds of markets does Polymarket offer?
Polymarket offers markets on topics such as elections, politics, sports, economics, crypto, weather, and culture.
Is Polymarket custodial?
Polymarket is described in its documentation as non-custodial, meaning users control their own funds.

References

  1. Polymarket Docs — https://docs.polymarket.com/polymarket-101
    Supports: Describes Polymarket as a prediction market platform, non-custodial, and settled through blockchain smart contracts.
  2. Wikipedia — https://en.wikipedia.org/wiki/Polymarket
    Supports: Provides founding date, founder, headquarters, and general platform description.
  3. CoinGecko — https://www.coingecko.com/en/coins/polymarket
    Supports: Describes Polymarket as a large prediction market platform.
  4. CoinMarketCap — https://www.coinmarketcap.com/currencies/polymarket/
    Supports: Describes Polymarket as a large prediction market covering politics, news, culture, sports, and tech.
  5. Gemini — https://www.gemini.com/cryptopedia/polymarket-prediction-markets-crypto-decentralized-betting
    Supports: Describes Polymarket as a decentralized prediction market launched in 2020 and built on Polygon technology.