Polymarket vs PredictIt: Which Prediction Market is Better?
PolyTrack Team
PolyTrack
Polymarket and PredictIt are both prediction markets, but they serve different audiences and operate under vastly different regulatory frameworks. This comparison helps you understand which platform is right for your trading needs.
Platform Overview
Polymarket
- • Founded: 2020
- • Blockchain-based (Polygon)
- • Uses USDC stablecoin
- • No KYC required
- • US users blocked
- • $3.5B+ 2024 election volume
PredictIt
- • Founded: 2014
- • Traditional web platform
- • USD via bank/card
- • Full KYC required
- • US users allowed
- • Academic research focus
Key Differences
Fees
Polymarket: 0% trading fees (only blockchain gas ~$0.01)
PredictIt: 5% on every trade + 10% on profits withdrawn
PredictIt's 15% total fee burden significantly impacts profitability. A winning trade that returns 50% on Polymarket only returns ~35% on PredictIt after fees.
Position Limits
Polymarket: No position limits
PredictIt: $850 maximum per market
PredictIt's strict limits prevent large-scale trading and limit profit potential. Polymarket whales regularly hold positions worth millions.
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Market Selection
Polymarket: Politics, crypto, sports, entertainment, economics
PredictIt: US politics only
PredictIt is limited to political markets due to its academic research designation. Polymarket offers much broader coverage.
Liquidity
Polymarket has significantly higher liquidity, especially on major events. During the 2024 election, Polymarket had 10-50x more volume than PredictIt on equivalent markets.
Regulatory Status
PredictIt operates under a CFTC no-action letter for academic research—legal but limited. Polymarket settled with CFTC in 2022 and now blocks US users entirely.
Side-by-Side Comparison
| Feature | Polymarket | PredictIt |
|---|---|---|
| US Access | Blocked | Allowed |
| Trading Fee | 0% | 5% |
| Profit Fee | 0% | 10% |
| Max Position | Unlimited | $850 |
| Markets | All types | Politics only |
| KYC Required | No | Yes |
| Currency | USDC (crypto) | USD |
Which Should You Choose?
Choose Polymarket if:
- You're outside the United States
- You want zero trading fees
- You want to trade large positions
- You're interested in non-political markets
- You prefer crypto-native platforms
Choose PredictIt if:
- You're a US resident and want legal access
- You only care about US political markets
- You prefer USD deposits without crypto
- You're okay with small position sizes
Track Both Markets
PolyTrack helps you monitor Polymarket whale activity. Use our insights to find opportunities, then trade on whichever platform you have access to.
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