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What is Polymarket?

Polymarket is a decentralized prediction market platform where users can predict and trade on the outcomes of real-world events, such as crypto, sports, technology, and more.

Simply put, Polymarket lets prices reflect market expectations. By buying shares of a specific outcome, users express their view on whether it will happen. For example, a share priced at $0.65 usually means the market estimates about a 65% chance of that outcome occurring. You can hold your shares until settlement, or sell them earlier as prices change to take profit or limit losses.

Polymarket is non-custodial, meaning users remain in control of their assets. Transactions, positions, and settlement records can be viewed on Polygon. Event outcomes are resolved according to market rules through an oracle mechanism.

This guide explains how to access Polymarket in imToken, deposit funds, place orders, manage positions, and withdraw assets.

Note: Prediction markets involve risk, and outcomes are uncertain. Before participating, make sure you fully understand the market rules, settlement process, and the laws and regulations in your jurisdiction.

Before You Start

Make sure your imToken wallet is ready:

  • Polygon account: If you do not have one, go to My Profile - Manage wallets - Add, then select Polygon under EVM networks.
  • Tokens for deposit: Polymarket supports deposits in USDT, USDC, ETH, and other tokens via networks such as Polygon, Ethereum, Base, Arbitrum, BNB Smart Chain, and Tron.
  • A small amount of Gas tokens: Deposits require the native token of the corresponding network as Gas. For example, keep ETH in your Ethereum account, POL in your Polygon account, and TRX in your Tron account.

Guide

1. Connect your Wallet and Enable Trading

Open your Polygon account in imToken and tap USDC. Tap the Token Function ◎ button in the lower-left corner, select Trade → Polymarket, then tap Confirm to authorize access to your wallet address.

💡 If USDC is not shown on the account homepage, tap + and add it from Popular Assets.

Follow the pop-up instructions to sign in to the DApp. You can also tap Sign in in the top-right corner, select the imToken icon, and sign to log in.

Initial setup

When connecting for the first time, follow the prompts to complete these steps:

  1. Choose a username and agree to the Terms of Use.
  2. Set up an email address, or choose to do it later.
  3. Enable trading. This will create a proxy wallet and allow you to enjoy Gas-free trading afterward.
  4. Sign to approve tokens and enable auto-redeem, so the system can handle settlement and fund conversion.

2. Deposit Funds

Polymarket supports multi-chain deposits. After deposit, your tokens will be automatically converted into pUSD, Polymarket’s internal accounting unit that is pegged 1:1 to USDC, for trading.

Method 1: Deposit USDT from Tron

If you hold USDT in your Tron account, you can deposit it via direct transfer.

  1. In Polymarket, go to Portfolio from the bottom navigation bar, then tap Deposit - Transfer Crypto.
  2. Select USDT and the Tron network, then tap Copy address to copy the deposit address.
  3. Return to your Tron wallet and transfer USDT to the deposit address. Once the transaction is confirmed, you can view your balance on the Portfolio page.

Note: Cross-chain deposits may involve a small amount of loss. The actual amount received is subject to the amount shown on the page. 

Please also note the minimum deposit amount. When transferring USDT on Tron, you can refer to the guide Simplified TRON USDT Transfers with One-Click Energy Rental to reduce transfer fees.

Method 2: Deposit from Polygon or Other EVM Networks

If you hold tokens on Polygon, Arbitrum, or other EVM networks, tap the imToken Wallet icon under Connected to view supported deposit tokens.

  1. Select the token you hold, such as USDC-Polygon, and tap Continue.
  2. Enter the amount or choose a deposit percentage, then tap Continue.
  3. Review the deposit details and tap Confirm order.
  4. Sign and send the token approval transaction, then sign the deposit transaction.

After the deposit is successful, you will see a Deposit successful message in the pop-up window. You can then view your balance on the Portfolio page.

3. Choose a Market and Place an Order

On the homepage, select an event you are interested in, then sign the message as prompted to generate an API key. This verifies your identity, enables trading, and syncs your positions.

Scroll down to view available markets, resolution rules, end time, and data sources used for settlement.

To place an order:

  1. Select your prediction direction, Yes or No, and enter the amount you want to buy.
  2. Confirm the price and estimated return, then tap Buy and sign to submit the order.
  3. Wait for the event to be resolved, or sell your position early based on market price changes.
  • For example, in the event “World Cup Winner”, there may be multiple markets for different national teams.
  • Suppose you open the market for one team, and the current Buy No price is 85¢ = $0.85. This means the market believes that the team has about an 85% chance of not winning the World Cup.
  • If you buy at $0.85 and your prediction is correct, each share will be settled at $1, giving you about a 17.6% profit: ($1 - $0.85) / $0.85.

💡 Polymarket supports limit orders. You can switch to limit order mode in the top-right corner of the order page and manually set your preferred price, share amount, and order duration. Limit orders can help reduce slippage, but they will only be filled when the market reaches your target price.

4. Manage Positions and Settlement

After placing an order, you can view your positions on the event page or on the Portfolio page.

  • Take profit or stop loss early: On the Portfolio page, find your current position, tap Cash out $xxx, and sign the transaction.
  • Wait for settlement: After the event ends, if your prediction is correct, your principal and earnings will be automatically redeemed back to your Polymarket balance for future trades.

Take profit or stop loss early 👆

Withdraw

Polymarket supports withdrawals to multiple networks, including Polygon, Ethereum, BSC, Base, and Arbitrum.

  1. Go to the Portfolio page and tap Withdraw.
  2. Select the target network, such as Polygon, and the token, such as USDC.
  3. Enter the receiving address, or tap Use connected to automatically fill in your current wallet address.
  4. Enter the amount, tap Withdraw, and sign to send the withdrawal transaction.
  5. After the withdrawal is successful, you will see a Withdrawal successful message in the pop-up window. Close the window and return to the receiving wallet homepage to view the received tokens.

Note: Before withdrawing, make sure the network, token, and address are correct.

FAQ

Q1. Why can the price on Polymarket be understood as probability?

Because winning shares are settled at a fixed value of $1, the current price can be understood as the market’s estimate of how likely that outcome is. The closer the price is to $1, the more certain the market is. The lower the price, the less certain the market is.

Please note that prices change in real time based on market buying and selling. They only represent current market expectations and do not guarantee the final result. If your prediction is wrong when the event ends, the corresponding position will become worthless, regardless of your original purchase price.

Q2. Do I need to pay Gas fees when placing orders?

No. Polymarket supports Gas-free trading. You only need to pay on-chain Gas fees when depositing funds.

Q3. Does Polymarket charge fees?

Some Polymarket markets charge fees to takers, while makers are not charged. Fees may vary by market category. For details, please refer to Polymarket’s official fee documentation.

Q4. Why is my purchase price different from the probability shown on the page?

Polymarket uses an order book model. The displayed probability, or market price, may be affected by the bid-ask spread, liquidity, and your order size. Please refer to the actual execution price.

Q5. What is pUSD?

pUSD is the collateral asset used for trading on Polymarket. It is backed by USDC. After users deposit funds, their tokens are automatically converted into pUSD. When withdrawing, users can choose from the networks and tokens supported on the page.

Q6. Why can’t I access or use Polymarket?

Polymarket restricts access and trading in some regions, such as the United States and mainland China. Please make sure your use complies with local laws and regulations as well as Polymarket’s Terms of Service.

Polymarket Official Channels

Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.