Trading platform
Trading collateral
pUSD, or Polymarket USD, is a USDC-backed token on Polygon. Supported deposit routes convert incoming assets to pUSD for trading.
Your ecosystem guide / Polymarket
Polymarket: Event Positions and Perpetual Futures
Polymarket trades positions on event outcomes. In a binary market, Yes represents the condition occurring and No represents it not occurring. A position can be sold before resolution or redeemed afterward at the recorded payout. Perps is a separate product for leveraged perpetual futures.
- Type
- Prediction market platform
- Verified on 14.10.2026
- Position collateral
- pUSD
- Verified on 14.10.2026
- Settlement network
- Polygon
- Verified on 14.10.2026
Polymarket
All sections
pUSD and Yes / No positions
Trading collateral and an outcome position are different assets. A purchase exchanges part of the collateral balance for positions in a particular market.
Two outcomes in one market
A complete set of one Yes and one No position is backed by 1 pUSD. A standard binary resolution pays 1 pUSD to the winning position and zero to the losing one. Market rules determine settlement, including special payout cases.
Position accounting
Polygon contracts hold outcome balances. Markets use Protocol V2’s PositionManager or Conditional Tokens, known as CTF. Yes and No have the same economic meaning in both systems, while integrations use different position identifiers and contracts.
An outcome position’s lifecycle
Sell, redeem or merge a complete set
An exit depends on the market’s state and which positions you hold. Selling needs a matching order. Redemption follows the recorded outcome. Merging a complete Yes and No set returns its collateral without waiting for the event.
Sell before resolution
- 01Buy Yes or No
- 02Place a sell order
- 03Receive payment for filled positions
Positions trade through bids and asks until resolution. Available orders determine the exit price and executable size. A limit order sets the selling price and remains in the book until a matching order can fill it.
Position rules ↗Redeem after resolution
- 01Record the market outcome
- 02Establish the position payout
- 03Redeem for pUSD
Trading stops when the market resolves. Redeem exchanges positions at the recorded payout. A standard binary result returns 1 pUSD per winning position and zero per losing position; a split payout redeems each side for its assigned share.
Position rules ↗Merge Yes and No
- 01Hold equal Yes and No balances
- 02Merge the complete set
- 03Receive pUSD collateral
Merge converts equal quantities of opposing positions in the same market back to collateral: one Yes plus one No returns 1 pUSD. It requires neither an order-book buyer nor a resolved outcome. Split performs the reverse operation, creating both sides from pUSD.
Position rules ↗How an event becomes a payout
Market rules define the outcome source, end time and handling of ambiguous results. The title states the question; the rules determine settlement.
Proposal and challenge
For UMA-resolved markets, a participant proposes an outcome and posts a bond. An unchallenged proposal is accepted after the challenge window. A dispute starts further rounds; a second challenge escalates the result to a UMA token-holder vote.
Price-based Up/Down markets
Chainlink-resolved markets compare time-weighted average prices, or TWAPs, at the start and end of a specified interval. A final price equal to or above the starting price gives Up; a lower price gives Down. The market’s rules specify the price source and interval.
Redemption at the recorded result
Resolved positions become redeemable at their assigned payout. A standard binary result pays 1 pUSD to the winning side and zero to the losing side; a split result pays each side its assigned share.
Predictions, Perps and market data
An outcome position settles against an event condition. A perpetual future follows an underlying market, requires margin and can be liquidated if collateral no longer supports the position.
Event positions
Polymarket Predictions
Predictions trades outcome positions through an order book. Each market has its own question, deadline and resolution source. A purchased position can be sold before settlement.
Perpetual futures
Polymarket Perps
Perps opens leveraged positions on underlying assets without an expiry date. Matching happens offchain, while custody and settlement use Polygon. Trading does not create a separate onchain transaction for each fill. Order placement is prohibited from the US, Canada and other jurisdictions on the Perps-specific list.
Analysis and integrations
Polymarket API
Public APIs provide markets, order books, trades and position data. A market identifier connects prices to its rules; the position ledger determines the contract and position identifier an integration uses.
Crypto events
Polymarket Crypto
Crypto markets trade outcomes of price moves and other events. Chainlink-resolved Up/Down markets compare time-weighted starting and ending prices; that outcome position differs from a future on the same asset.
From the source asset to a trading balance
Prediction markets distinguish fully blocked jurisdictions, where opening and closing positions are prohibited, from close-only jurisdictions, where existing positions can be closed but new ones cannot be opened. Restrictions can apply to the website, API or both. Perps uses a separate restriction list. Supported deposit routes convert incoming assets to pUSD on Polygon.
Choose a supported deposit route
Select the source network and asset in the deposit interface. Each route has its own address and minimum; deposits below the minimum are not processed.
Receive pUSD
The selected route bridges and swaps the incoming asset. Polygon deposits of USDC or USDC.e also convert to pUSD. A completed deposit appears in the trading balance.
Trade, then choose a withdrawal
Selling, redemption and Merge return funds to the collateral balance. Withdrawal then selects the received asset and network. Perps separately moves collateral from the Polymarket wallet into its exchange account and back.
Who pays for execution and receives incentives
In fee-enabled prediction markets, takers pay when they fill existing orders. Makers place orders in the book and pay no fee when those orders fill. Perps charges trading fees in pUSD under the account’s tier. Funding separately transfers payments between position sides.
Documents, data and communities
Polymarket documentation ↗Market resolution rules ↗Market data and APIs ↗Contract addresses ↗Prediction-market access ↗Perps trading fees ↗Perps terms and access ↗Maker Rebates eligibility ↗
2 Discord communities on Polymarket
Checked on 14.10.2026
Polymarket
Polymarket’s own community for prediction markets and developer tools.
Community
About the ecosystem
Poly Research & Robotics
Independent Polymarket bot development, strategy research and data.
Community
About the ecosystem
Full list on discordcatalog.com →
2 sources about Polymarket
Polymarket announcements and its founder on event markets and product development.Checked on 14.10.2026
Polymarket
Polymarket
Official Polymarket news, product announcements and event markets.
Official
Affiliation confirmed
Shayne Coplan
shayne_coplan
The Polymarket founder's perspective on prediction markets and product direction.
Official
Affiliation confirmed
Full list on xfollowlist.com →
Information reviewed: 14 October 2026
Practical questions
1What does the percentage next to Yes represent?+
It expresses the market price relative to the position’s full payout. An actual purchase or sale fills against available orders and can differ from the displayed price.
2How is a prediction-market fee calculated?+
The traded position count is multiplied by the market’s fee coefficient, the position price p and (1 − p). Equal quantities at prices p and (1 − p) therefore produce the same fee amount. The coefficient follows the market category; fee-free markets use zero.
3Why is redemption unavailable after the event ends?+
The event ending and the outcome being recorded are separate steps. UMA proposals have a challenge window; disputes add rounds and can require a vote. Redemption opens after resolution completes.
4Can a purchased Yes position be liquidated like a Perps position?+
A purchased prediction position is paid for when acquired and settles against the market outcome. Perps uses margin to support leverage; insufficient collateral can cause the system to liquidate the position. The products have different settlement mechanisms.