Imagine a universe where you can hedge outcomes not just at the casino but on whether inflation dips below 3% or whether the next big election turns into a political soap opera—with real money on the line.
Welcome to Polymarket, a crypto-native prediction platform where curiosity meets markets—no smoky backrooms or casino carpets, just transparent, automated, and verifiable transactions via the blockchain.
Intrigued?
Read on to learn how to put your predictions to work with Polymarket and Phantom.
How does Polymarket work?
Polymarket runs on a blockchain, where every market is a smart contract game between users.
Each question creates two sets of shares: YES and NO, which combined always equal $1. For example, if YES shares trade at $0.60, NO shares will trade at $0.40. This means the crowd’s aggregated buy/sell pressure is split between the two sides. If you believe the event is likely, you can buy YES shares at the going price; if it happens, your shares are paid $1 each, for a profit of $1 minus your purchase price. If the event does not occur, your shares expire worthless.
Polymarket’s predictions are user-driven, not set by a bookmaker. In fact, every trade is just one user agreeing to take the opposite side of another’s position. Because of this, you can also sell your shares at any time before the event resolves—locking in a profit or loss.
Why does Polymarket attract users?
Polymarket has hooked a wide range of users by mixing finance, gaming, and information.
Here's why:
- Skin in the game: Everyone on Polymarket has money riding on their call. Because users can profit or lose, the markets reward accuracy. Researchers point out that this tends to make prediction markets more reliable than pundits and polls.
- Live updates: Polymarket reacts instantly to new information. Unlike a traditional poll that might publish results days after an event, Polymarket’s odds change in real time. For example, if a political candidate has a good debate performance or drops out unexpectedly, traders rush to update prices on Polymarket immediately.
- Profit from knowledge: On Polymarket, you can literally trade on knowledge. If you have expertise or a strong hunch—say on a tech merger, a baseball series, or an economic report—you can back your view. This blend of financial opportunity and real-world insight is a big draw for crypto investors, gamblers, and news junkies alike.
- Wide variety: Polymarket offers trades on an eclectic mix of topics. Users can wager on political elections, economic indicators, sports championships, science milestones, and even entertainment awards. This breadth means nearly anyone can find something to trade on, broadening the user base.
Polymarket: The road ahead
Polymarket is already looking beyond U.S. politics for its next growth phase.
The platform is steadily adding new categories of markets. Sports markets are now available for event traders. Economic and financial questions—like whether there will be a recession in 2026 or movements in key currency or commodity prices—have also been introduced. International and news events continue to populate the site; for example, recent markets asked about Iran’s political situation and the odds of closures in the Strait of Hormuz. Even entertainment and cultural events are on the table. This expansion means Polymarket aims to be a Swiss Army knife of forecasts—a one-stop shop for real-time odds on whatever is happening in the world.
At the same time, Polymarket faces a shifting regulatory landscape. The Commodity Futures Trading Commission (CFTC) effectively barred its U.S. customers back in 2022 after a settlement. As a result, the platform currently does not allow U.S.-based users to trade, in line with CFTC guidance. To navigate this, Polymarket has enlisted heavyweights from the policy world. In 2022, it brought aboard former CFTC chairman Christopher Giancarlo as an advisor. With Giancarlo’s guidance and ongoing discussions with regulators, Polymarket’s leadership is signaling a push toward compliance and possible access to the U.S. in the near future.
How to get started with Polymarket?
You can get started on Polymarket for less than one dollar. No, seriously. Here's how:
- Go to polymarket.com
- Connect your Phantom wallet
- Add funds, i.e. buy or transfer in USDC on Polygon to get started
- Select a market you want to trade
- Select your outcome (YES or NO)
- Set your desired number of shares
- Confirm
That’s it. Once the outcome is determined, your position will either settle in your favor and funds will be credited to your Phantom wallet, or the position will settle against you. Either way, you’ve taken a position based on your conviction.
How to set up a Phantom wallet?
We offer browser extensions for Firefox, Chrome, Brave, and Edge, as well as apps for iOS and Android.
To get started, download the Phantom browser extension or mobile app.
How to set up Phantom on mobile
- Follow the installation steps of the Phantom app on your device
- Open the app—you’ll be greeted by the Phantom onboarding screen
- Select “Create New Wallet”
- Enable biometric security and click “Next”. This secures your wallet using fingerprint or facial recognition to ensure you are the only one that can access it. We strongly recommend turning this feature on!
- You will be presented with your “Secret Recovery Phrase” (seed phrase)
- Be sure to store your Secret Recovery Phrase in a safe and secure location!
- Your Secret Recovery Phrase is the MOST important part of your new wallet:
- Whoever has access to your Secret Recovery Phrase will have access to the wallet’s funds
- If you lose your Secret Recovery Phrase, you will lose access to your wallet and its funds
- We at Phantom never have access to your Secret Recovery Phrase
- Phantom team members will never ask you for your Secret Recovery Phrase
- The Secret Recovery Phrase is the only way to recover your wallet
- After saving your wallet password and securing your Secret Recovery Phrase, select “Continue” to proceed
- You can enable notifications to get instant updates about your wallet activity. These can also be customized in the Phantom app via Settings > Notifications
- To fund your wallet, make sure to check out our Apple Pay and Google Pay guide
How to set up Phantom on desktop
- Follow the steps in your respective extension store to add Phantom to your browser
- Open the Phantom browser extension and select “Create New Wallet”
- Key in a secure password and select “Continue”
- You will be presented with your “Secret Recovery Phrase” (seed phrase)
- Be sure to store your Secret Recovery Phrase in a safe and secure location!
- Your Secret Recovery Phrase is the MOST important part of your new wallet:
- Whoever has access to your Secret Recovery Phrase will have access to the wallet’s funds
- If you lose your Secret Recovery Phrase, you will lose access to your wallet and its funds
- We at Phantom never have access to your Secret Recovery Phrase
- Phantom team members will never ask you for your Secret Recovery Phrase
- The Secret Recovery Phrase is the only way to recover your wallet
- After saving your wallet password and securing your Secret Recovery Phrase, select “Continue” to proceed
- After successfully setting up your Phantom wallet, you can access it on the top right-hand side of your browser's toolbar
- Don’t see Phantom? Click the icon that looks like a puzzle piece to access a list of your browser’s extensions, where you will find Phantom
- Click on the pin icon next to Phantom to make the wallet visible in your browser's toolbar and easier to find in the future
- To fund your wallet, make sure to check out our Apple Pay and Google Pay guide
How to bridge tokens to Polygon with Phantom?
If you’d like to bridge funds to Polygon, use our very own Crosschain Swapper! With our Crosschain Swapper, you can bridge tokens across Polygon, Solana, Ethereum, Base, and Sui right in your Phantom wallet.
FAQs
Disclaimer: This guide is strictly for educational purposes only and doesn’t constitute financial or legal advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
