How does Polymarket make money? For years it charged almost nothing, which led many people to ask. Since 2026 the answer is clearer: trading fees on most markets, plus revenue from distributing its data, backed by billions in outside investment. This guide explains Polymarket’s business model, then the habits that help traders who want to make money on Polymarket themselves.
How Polymarket makes money
- Trading fees. Since 2026 Polymarket charges takers a fee on most categories, from 0.04 to 0.07 × price × (1 − price) per share, and pays part of it back to makers as rebates. Geopolitics markets are fee-free. See Polymarket fees.
- Polymarket US. The US app runs on Polymarket’s own CFTC-regulated exchange and clearing house, bought in 2025, and charges its own trading fees.
- Data. As part of its October 2025 investment, Intercontinental Exchange (ICE) became a global distributor of Polymarket’s market data to institutional clients.
Like Kalshi, Polymarket is an exchange: traders bet against each other, not against the house, so Polymarket earns on volume rather than on who wins. In mid-2026 the company said its annualised revenue was well above $1 billion, according to reporting by CNBC and CoinDesk.
Ownership and funding
| When | What happened |
|---|---|
| July 2025 | Bought QCEX, a CFTC-licensed exchange and clearing house, for $112 million, the basis for Polymarket US |
| October 2025 | ICE agreed to invest up to $2 billion, at a valuation of about $8 billion before the investment |
| Spring 2026 | Further ICE investment; reported valuation around $15 billion |
| September 2026 | Raised $1 billion at a $21 billion valuation, led by 1789 Capital |
From company announcements and reporting by Bloomberg, Blockworks and others, checked October 2026. Valuations are as reported and weren’t independently audited.
Can you make money on Polymarket?
Some traders do; our Polymarket leaderboard shows the most profitable accounts, and leaderboard movers who is climbing. But every share has a buyer on the other side, and taker fees come out of each trade, so the average trader loses a little. What helps:
- Have a reason the price is wrong. Buy at 30¢ only if you think the real chance is clearly higher than 30%.
- Be a maker. Resting limit orders pay no fee and can earn rebates.
- Read the resolution rules. Polymarket settles on the exact wording and source in each market’s rules, which can be narrower than the title suggests.
- Watch the other venue. When Kalshi lists the same question, compare prices in our price-gap scanner, and check that both markets really ask the same question.
- Keep positions small. A good estimate still loses often. Don’t stake money you can’t afford to lose.
FAQ
How does Polymarket make money if it was free?
Who owns Polymarket?
How do you bet on Polymarket?
Related: Polymarket valuation and IPO · Polymarket fees · Polymarket US · How Kalshi makes money · Polymarket review