Pros and Cons of Polymarket Sports Predictions
Polymarket sports predictions give you plenty of ways to buy and sell positions across many sports markets. But aside from its advantages, are there any cons you should know about? Let’s take a look at each.
Pros
- Simple Yes/No contracts
- Hundreds of sports and esports markets
- Transparent blockchain-based trading system
- Trade on live and futures events
Cons
- Requires USDC funding to start trading
What Is Polymarket?
Prediction markets have been all the rage lately, and one of the brands at the forefront is Polymarket. Polymarket is a crypto-based prediction market that lets you trade contracts on the results of real-world events. This brand recently returned to the US after receiving trading approval from the Commodity Futures Trading Commission (CFTC).
That said, Polymarket is by no means a sportsbook. You won’t be placing wagers against a bookmaker but instead buying and selling simple Yes or No event contracts based on what you think will happen in a sports event. For this reason, Polymarket sports predictions aren’t the same as sports betting.
Each event contract you’ll find on the Polymarket app or website has a price between $0.01 and $0.99, which is an indication of what other traders believe the probability of that outcome is. For context, if the price of a Yes contract for Team A to win against Team B is $0.75, it means traders on the site think there’s roughly a 75% chance that Team A will win. If you buy that contract and Team A actually wins, the contract settles at $1 and the profit of $0.25 is yours to keep. If they lose, it settles at $0 and the amount you paid ($0.75) is lost.
Can You Predict Sports on Polymarket?
Yes, you can. Polymarket is legit and offers dozens of sports prediction markets with hundreds and in some cases, thousands of contracts being traded at any given time. You can buy and sell contracts on events across major leagues. Polymarket sports predictions markets are split into two groups: live markets and futures.
- Live markets: These consist of event contracts for games that are already in progress, just as the name implies. Event contract prices in live markets aren’t static because they update as the games unfold and traders buy or sell their positions.
- Futures: These prediction markets are all about long-term event outcomes like who will win the NBA championship, which player will become MVP, or who will be named Rookie of the Year.
What Sports Markets Does Polymarket List?
There are markets in at least 21 sports, with contracts available across national and international leagues. You can trade event contracts on league matches like the NBA, NHL, MLS, Bundesliga, Serie A, La Liga, and the UEFA Champions League, alongside sports such as golf, Formula 1, tennis, cricket, and esports. There are also markets for niche events like lacrosse, pickleball, and chess.
Here are some of the major sports categories I spotted during my Polymarket review:
- American football
- Basketball
- Hockey
- Tennis
- Soccer
- Esports
- Golf
- MMA
- Boxing
- Cricket
- Rugby
- Motorsports
- Baseball
- UFC
- Chess
Are Polymarket Sports Predictions Legal?
Yes, they are. Just like Polymarket election predictions, Polymarket sports predictions are fully legal in the US. I always suggest only trading on platforms that are regulated by the Commodity Futures Trading Commission (CFTC). That’s because these operators are closely watched and adhere to strict rules on transparency, fair trading, and user protection.
Polymarket left the US after regulatory issues in 2022 but returned after securing approval from the CFTC to offer event-contract trading. So you can sign up and start buying contracts as long as you’ve completed the necessary KYC checks, live in an eligible state, and meet the minimum age requirement which is usually 18 or the age of majority in your state.
So if you’ve been curious and asking: Are Polymarket sports predictions legal? You now know they are.
Types of Polymarket Sports Event Contracts
At Polymarket, you’ll find several types of sports contracts, and you can pick from live game outcomes to long-term futures markets if preferred. Here are some of the most common ones most traders choose:
| Contract type | Example |
| Match outcomes | Will Team X beat Team Y? |
| Championship futures | Who will win the NBA championship? |
| Player awards | Who will win NBA MVP this season? |
| Tournament winners | Will Team B win the Counter-Strike 2 Major Copenhagen Playoffs? |
| Live markets | Will the leading team win the match? |
Polymarket Sports Predictions Platform Features
Polymarket hosts thousands of prediction markets, but its features make it easy to trade without feeling like you’re trying to navigate a maze.
Here are some of its top features:
Real-time Probability Pricing
Every contract on Polymarket is priced between $0.01 and $0.99, and those prices change constantly as traders buy and sell positions.
The number you see represents what the app’s users think the likelihood of that outcome is. So if a Yes contract is trading at $0.04, traders are basically saying there’s about a 4% chance the event will actually occur. These prices are essentially the market’s view of the outcome, and are also known as polymarket probabilities. Prices change as new information becomes available, especially when it gets closer to match day.
Reward Programs on Select Markets
Polymarket sports predictions are solid on their own, but you can also get rewarded on certain markets if you hold contracts in those markets, or have helped in improving liquidity by placing buy or sell orders. You’ll find markets that are eligible for these rewards clearly stated, and the bonuses are usually awarded when the criteria is satisfied.
Extensive Range of Sports Markets
Polymarket easily has one of the most extensive prediction markets for sports events. You’ll have access to live sports markets where the contract prices update during the games, and you can buy or sell positions as it progresses. Occurrences like injuries, goals or penalties can change how the market values an outcome, and ultimately the contract price. Remember that you can always sell your position before the event settles if you prefer.
Futures markets are also well covered, and you can find event contracts on topics like who will win the NBA championship or who will be named Rookie of the Year.
Blockchain-based Trading System
Polymarket uses blockchain infrastructure, so trades and any other contract activity are recorded transparently on-chain. You first have to fund your account with USDC, as direct fiat payments aren’t supported. Crypto prices aren’t very stable, and this may be a concern for some traders, but USDC is a stablecoin, so your funds won’t experience rapid changes as seen with other cryptocurrencies. Bear in mind that Polymarket fees usually don’t apply to transactions, but network fees may still be incurred.
Conclusion: Polymarket Sports Predictions Are Easy to Understand
Polymarket is one of the top sites for sports prediction markets in the US, and it’s not difficult to see why. This site covers a wide range of sports and markets. But remember that you won’t be placing wagers as with a bookmaker. You’re instead trading Yes or No contracts on your knowledge or what you believe will happen in an upcoming sporting event.
I’ve had a great time trading on contracts from major leagues and sports like basketball, football, and hockey to esports tournaments, motorsports, golf, and even not-so-popular competitions.
Another advantage is that Polymarket is regulated by the CFTC so you can rest easy knowing that it’s fair to trade on. If you’re curious about how Polymarket sports prediction markets work, you can visit the site using the banners on this page.
