Home › Polymarket vs Coinbase
Facts checked September 24, 2026 against each platform's own pages, filings and news reports · numbered sources below
Coinbase offers prediction markets through its futures commission merchant, Coinbase Financial Markets, which began offering event contracts in December 2025 with market flow from Kalshi; CoinDesk reported that it reached all US customers on January 28, 2026 [1][2][3]. States have pushed back: a Nevada court barred it from offering event contracts there, and New York's attorney general sued it in April 2026 [4][5]. Polymarket serves US residents through Polymarket US, its own CFTC-regulated exchange [6].
| Polymarket | Coinbase | |
|---|---|---|
| Who runs it | Two products: the international Polymarket.com, and Polymarket US, operated by QCX LLC [7][8] | Coinbase Financial Markets, Inc., a Coinbase subsidiary in New York registered with the CFTC as a futures commission merchant and an NFA member [20] |
| Regulation | Polymarket.com says it is not regulated by the CFTC; Polymarket US is a CFTC designated contract market and clearing organization [7][6] | A broker (FCM) that is a member of KalshiEx and of Coinbase Derivatives Exchange and a clearing member of Kalshi Klear and Nodal Clear [20] |
| Who can use it | Polymarket.com is blocked in 39 countries, including the US, UK, France and Germany; US residents use the separate Polymarket US app (18+, identity check) [9][10][8] | Coinbase customers in the US; barred in Nevada by a court injunction, and Connecticut ordered it to stop sports contracts in September 2026 [3][4][21] |
| Money | Polymarket.com: pUSD, a token backed 1:1 by USDC on Polygon; Polymarket US: US dollars [11][6] | Customer funds held at Citibank and at Kalshi Klear's depository bank; USDC-to-dollar conversions can be suspended [20] |
| Trading fees | Polymarket.com: takers pay shares x rate x p x (1-p), with a rate from 0 (geopolitics) to 0.07 (crypto); Polymarket US: takers pay 0.0695 x contracts x p x (1-p) and makers get a rebate [12][13] | Not stated in the documents we could read |
| Deposits and withdrawals | Polymarket.com: crypto deposits from several chains, no Polymarket fee; Polymarket US: card or ACH up to $50,000 a day, wire from $1,000, free withdrawals [14][12][15][16] | Every CFM customer is also a customer of Coinbase, Inc.; the deposit rules were not stated in the documents we could read [20] |
| Limits | Polymarket US sets no trading size limits [17] | Not stated in the documents we checked |
| Markets | Politics, sports, crypto, economics, culture, weather, tech and more [6][12] | Thousands of events across sports, politics, crypto and culture, traded 24/7; sports lead volume, followed by crypto [22][23] |
| How markets settle | Polymarket.com: UMA optimistic oracle with a 2-hour challenge window and a UMA vote on disputes; Polymarket US: the exchange applies each market's listed sources [18][19] | Not stated in the documents we could read; the contracts come from Kalshi [2] |
All current prices: Polymarket odds today · fees on a real order: Polymarket fee calculator · where Polymarket is available
Coinbase said its prediction markets launched with initial market flow powered by Kalshi, and its FCM is a member of KalshiEx and a clearing member of Kalshi Klear; it is also a member of Coinbase's own derivatives exchange. [2][20]
It faces state challenges: a Nevada court granted a preliminary injunction on March 26, 2026, New York's attorney general sued on April 21, 2026, a Michigan federal judge denied Coinbase's request to block state enforcement in August 2026, and Connecticut ordered it to stop sports contracts on September 10, 2026. [4][5][24][21]
Coinbase said prediction markets passed $100 million in annualized revenue in March 2026 and that contracts and revenue more than doubled quarter over quarter in Q2 2026. [25][23]
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