Polymarket US vs Polymarket: two exchanges, not one
ThinBlimp guide · facts checked October 17, 2026 · nothing here is advice
Polymarket runs two separate exchanges. Polymarket (often called Polymarket International) is the original crypto-based exchange for traders outside the United States. Polymarket US is a separate exchange regulated by the CFTC for traders in the United States. They share a name and a brand. They do not share accounts, order books, fees or prices.
Side by side
| Polymarket | Polymarket US | |
|---|---|---|
| Who can use it | Traders outside the US | US traders, after identity verification |
| Regulated by | Not a US-regulated exchange | The CFTC, as a designated contract market |
| Money | Crypto: a dollar stablecoin | US dollars |
| Taker fee | A rate per category, set when each market lists | 0.0695 on every market |
| Maker orders | No fee | A small rebate per fill (−0.0125) |
| Smallest price step | 0.1¢ | 1¢ |
Availability in individual states has changed with court rulings this year. Check the venue before you sign up.
They are different order books
A trade on one exchange never touches the other. On one NFL game in September we compared the two catalogs market by market: none of the 1,076 markets on Polymarket US matched a market on Polymarket. Each exchange lists its own questions, with its own wording and its own rules.
Because the books are separate, their prices can drift apart. On the same September NFL game, the two exchanges' prices for the same team were within 3.8¢ of each other 90% of the time while the game was in play, and as much as 15.7¢ apart at the extreme. On a big game they usually track each other closely. On a thin market they can sit several cents apart for a long time.
Fees, worked out
Both use the same shape of fee as Kalshi, rate × contracts × price × (1 − price), with different rates. On 100 contracts at 50¢:
| Venue | Fee |
|---|---|
| Polymarket US, any market | $1.74 |
| Polymarket, new sports market | $1.25 |
| Polymarket, politics | $1.00 |
| Polymarket, crypto | $1.75 |
| Kalshi, most markets | $1.75 |
Polymarket keeps each market on the rate it had when it listed, so an older sports market can carry a lower rate than a new one. The market's own page states its rate. The Polymarket fee calculator does both exchanges, and the Kalshi vs Polymarket comparison puts all three side by side.
Rules can differ on the same game
Even when both exchanges list the same game, they can settle edge cases differently. A postponed game is the clearest example: Polymarket waits for the makeup game, while Polymarket US waits a fixed window and then settles at a fair price. The full comparison is in what happens when a game is postponed.
How ThinBlimp shows them
On a pro-league game card, ThinBlimp shows Polymarket US as the Polymarket price, because that is the book a US trader can use, and puts Polymarket's international price in the hover beside it. On the elections and long-dated markets, both appear where both list the market.
Questions
Is Polymarket US the same as Polymarket?
No. Polymarket US is a separate, CFTC-regulated exchange with its own accounts, order books, fees and price grid. A trade on one does not touch the other.
Can Americans use Polymarket?
Polymarket’s international exchange is not open to US persons. Americans trade on Polymarket US, which uses US-dollar accounts and identity verification.
Are the prices the same on Polymarket and Polymarket US?
Usually close on big games, but not always. They are separate order books. On one NFL game we measured, the two books were within 3.8¢ of each other 90% of the time in play, and up to 15.7¢ apart at the extreme.
Which charges lower fees?
It depends on the category. On 100 contracts at 50¢, Polymarket US charges about $1.74; Polymarket charges $1.25 on a new sports market, $1.00 on politics and $1.75 on crypto.