How Polymarket Is Regulated and Where It’s Available
Prediction market platforms like Polymarket operate as Designated Contract Markets and as such, are regulated at Federal level by the Commodities Futures Trading Commission (CFTC).
While the CFTC states that prediction markets are available in all 50 US states, this type of trading has come under heavy scrutiny at state-level, which has resulted in some states being restricted. The current states affected are:
- Arizona
- Illinois
- Massachusetts
- Maryland
- Michigan
- Montana
- Nevada
- New Jersey
- New York
- Ohio
- Tennessee
But things might easily change again, and it’s quite likely that further regulatory control will apply in the future. Beyond that you will need to be at least 18 years old to join Polymarket, and have valid ID documents to pass KYC verification.
Why Trade Event Contracts?
Prediction market platforms provide a straightforward way for people to access trading products. Something that has previously been confined to those who are prepared to spend lengthy periods of time building up a portfolio.
Another difference between prediction markets and other types of trading is that the event contracts you’ll find at Polymarket are peer-to-peer, so you are always trading with other users, Polymarket simply provides the platform to facilitate those trades.
Event Contracts Explained
Event contracts are very straightforward. You are simply predicting the outcome of a real life event, where there are only two possible outcomes. The options might be Yes/No, Up/Down, or Over/Under but there’s always just two possibilities.
Every contract has a maximum $1 value (100%) with each of the two sides assigned a percentage from 1% to 99%. The percentage doubles as the price of a contract, so from $0.01 to $0.99.
As users buy and sell contracts, the percentages and values change in real time until the event ends, and the official resolution is announced.
Buying and Selling Event Contracts
When you look at an individual contract, the two percentages represent the cost of the contract, and the implied probability of the event happening. For a contract where Yes is 75%, and No is 25%, you can buy a Yes contract for $0.75, or a No contract for $0.25, based on your prediction of the eventual outcome. All correctly predicted contracts are settled at $1, while incorrect predictions return $0.
As well as buying contracts, you can also sell them at any point the event remains live. You might choose to sell to secure a profit if the price of your contract has increased. Conversely, you may sell to offset a loss if your contract has devalued.
The Scope of Polymarket’s Prediction Markets
Polymarket offers thousands of event contracts in six different categories:
- Sports
- Politics
- Culture
- Cryptocurrencies
- Economics
- Climate
However, I’m sticking to the cryptocurrency markets for the purposes of this guide. Polymarket is the only prediction market platform that offers 5 minute crypto markets. They were first introduced in February 2026, and immediately exceeded Polymarket’s total trading volume. It was reported that trading activity for its 5 minute event contracts had overtaken 15 minute markets in terms of trading volume.
Initially, Polymarket only offered short term event contracts for Bitcoin, but now offers 24/7 access to markets for six cryptocurrencies. The 5 minute and 15 minute crypto markets generate trades totalling an estimated $60 million every day.
You can only trade event contracts by installing the iOS or Android app. You must also enable location access because you can only trade at Polymarket when you are physically located in a US state that isn’t blocked or restricted.
Let’s Look at 15 Minute Crypto Markets
To make things absolutely clear, there is nothing intrinsically different about short term crypto events. The Polymarket 5 minute markets and 15 minute markets work in exactly the same way as any other event contracts. However, they are incredibly challenging to predict correctly.
There are two main reasons. The first is the inherent volatility of cryptocurrencies as an asset. Secondly, the sheer level of trading activity that takes place in the space of 5 or 15 minutes. Short-term event contracts are only available for these six cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Ripple (XRP)
- Dogecoin (DOGE)
- Binance Coin (BNB)
On the plus side, Polymarket provides a whole selection of features to help you. These are not specific to Polymarket crypto event contracts, and they are always available regardless of the event. Here’s a quick look at those:
| Feature | What you’ll see |
|---|---|
| Interactive graph | 15 minute real time candle graph |
| Movement | Details of the last 5 trades (buy and sell) |
| Rules | The T&Cs applicable to the contract |
| Market Context | An optional AI-generated overview of the topic |
| Resolution source | UMA Optimistic Oracle |
| Activity | Shows all trading activity across the 15 minute duration |
| Live user chat | Chat with other Polymarket users |
Pros and Cons of 15 Minute Crypto Markets
Pros
- Quickfire events for top cryptos
- Numerous contracts for Bitcoin
- Contracts resolved within minutes
Cons
- Difficult to keep up with activity
My Final Thoughts on Polymarket’s 15 Minute Crypto Markets
As I’ve demonstrated, 15 minute crypto markets work in exactly the same way as the other event contracts at Polymarket, they just have a much shorter timeline. They are available for six cryptocurrencies, with events available 24/7.
Due to their huge popularity, these are incredibly difficult events to predict accurately, and they can be very difficult to keep up with due to the sheer volume of trading that takes place.
Although there are lots of features to help you, they are not an ideal starting point for anyone that’s completely new to prediction markets. Polymarket also offers event contracts in other categories which include sports, politics, culture, economics and climate, so pretty much something for everyone.
If Polymarket is available where you live, you’ll see it listed on the banners of this page, where you can click to take a look for yourself.
