Do I need cryptocurrency to use Polymarket?

Yes, you need to deposit cryptocurrency into your account to place bets.

How do I bypass geo-restrictions on Polymarket?

Users suggest using an anonymous wallet address without an email, combined with a residential proxy from an approved country.

Can I use trading bots on Polymarket?

Yes, the platform allows bots, and many users employ them. However, a simple bot is not enough. You need a strategic edge, like exploiting cross-platform pricing differences or tracking information the market has not priced in yet.

How to Start Trading on Polymarket

Q: Is copy trading a good strategy on Polymarket?

Copy trading top performers can be tempting, but some users find more success by counter-trading consistently losing wallets. If a wallet loses 75% of its trades, taking the opposite side can yield a 75% win rate.

To begin trading on Polymarket, create an account, deposit cryptocurrency, and select a market to predict. Users note that successful trading often requires significant starting capital, with one user mentioning 150K as a benchmark.

You must navigate geo-restrictions by ensuring you are in an approved country, or by using an anonymous wallet address and a residential proxy from an approved location. The platform does not care if you use bots, as half the platform consists of them.

Strategies range from manual trading and analyzing external data to find mispriced markets, to using bots that exploit cross-platform pricing differences or track information the market has not priced in yet. For bot trading, users advise starting very simple and managing execution latency.

How to Start Trading on Polymarket — infographic

To start trading on Polymarket, create an account, deposit funds, and then select a market to predict. Users share various strategies for engaging with the platform, from manual trading to using bots and analyzing data.

Setting Up Your Polymarket Account

Fund your account: You'll need to deposit cryptocurrency to place bets. "Step 1: have 150K to bet on Polymarket" highlights that successful traders often start with significant capital.

Understand Geo-restrictions: Polymarket uses geo-restrictions, so ensure you are in an approved country. "Polymarket doesn't care if you made 500%, why would they? It's not their money you took. And they don't care if you use bots either, half the platform is bots. But they do geo-restrict (which is annoying because you have to host your bot somewhere)."

Consider anonymous wallets: Some users suggest using anonymous wallet addresses to mitigate potential issues. "Just use an anonymous wallet address (no email) and a residential proxy from an approved country and you'll be fine."

Trading Strategies

Manual Trading: Some users find success by actively monitoring markets and making informed predictions. "My model flagged the baseline value, and I used decades of screen time to adjust for what it was missing."

Data Analysis: Successful traders often use external data to identify mispriced markets. "It’s all about finding what’s mispriced and why it’s mispriced."

Copy Trading and Counter-Trading: While copy trading top performers can be tempting, some Users report more success by counter-trading consistently losing wallets. "If the wallet loses 75% of its trades, and I take the exact opposite side with a fixed bet size, I win 75% of the time."

Bot Trading

Develop an Edge: Bots are commonly used, but a simple bot often isn't enough; you need a strategic edge. "The people consistently making money on Polymarket fall into two camps: arbitrage bots that exploit cross-platform pricing differences (Polymarket vs Kalshi vs Metaculus), and research-heavy traders who find markets where the crowd is wrong on a specific question because they're tracking information the market hasn't priced in yet."

Address Latency and Staleness: A significant challenge for bot traders is dealing with quote freshness and execution latency. "The p95 vs median gap is where most strategies die."

Start Simple: Avoid overcomplicating your bot initially to find what works. "Start simple, like REALLY simple."

Have you identified a specific market or type of prediction you're interested in on Polymarket?

Best for: People interested in prediction markets who have capital to invest and are comfortable with cryptocurrency and geo-restriction workarounds.