Polymarket

The business centres on operating event-contract trading venues that match buyers and sellers of binary outcome contracts. The international platform settles trades in USDC on Polygon with an off-chain central limit order book and open APIs, attracting liquidity from retail traders, professional traders and algorithmic firms. The US venue operates as a separate, CFTC-regulated exchange (DCM/DCO) offering fiat (USD) settlement for event contracts under a formal rulebook and fee schedule.

Value is created by aggregating liquidity and information into transparent probability prices, which traders use for speculation, hedging and information discovery. The firm enhances this with developer APIs and SDKs that enable automated trading and third-party integrations. Over time, the platform can monetise the resulting order flow, market data and potential token-based economics, alongside fee income from regulated exchange activity.

Polymarket operates a global, crypto-settled prediction market platform and a separate US, CFTC-regulated exchange for trading event contracts. Users buy and sell binary outcome contracts (yes/no shares) on political, financial, sports and cultural events, with prices reflecting crowd-implied probabilities.

The company generates revenue primarily through exchange trading fees on its US, fiat-denominated venue and, to a lesser extent, spread capture and potential data monetisation on the international platform, which largely runs with zero or minimal explicit trading fees. Its customers are mainly retail and professional traders, algorithmic trading firms, liquidity providers and developers integrating programmatic trading or market data via APIs.