How to Withdraw from Polymarket
Complete guide to withdrawing funds from Polymarket. Learn how to cash out USDC, transfer to your wallet, and convert to USD or other currencies.
Quick Summary
Minutes (Polygon)
~$0.01 gas
Via Exchange
Understanding Polymarket Withdrawals
Polymarket uses USDC (a stablecoin pegged to the US dollar) on the Polygon blockchain. When you withdraw, you're moving USDC from Polymarket to another wallet or exchange. The process is straightforward, but there are a few options depending on what you want to do with your funds.
Your withdrawal options:
- To Crypto Wallet: Send USDC to any compatible wallet
- To Coinbase: Direct integration for easy cash-out
- To Bank: Via an exchange, then to your bank
Method 1: Withdraw to Crypto Wallet
The most direct method is withdrawing USDC to your own crypto wallet.
Step 1: Get Your Wallet Address
Open your crypto wallet (MetaMask, Coinbase Wallet, Trust Wallet, etc.) and copy your wallet address. Make sure the wallet supports Polygon network USDC.
Step 2: Open Polymarket Withdraw
Click the "Withdraw" button in the Polymarket app (top right menu on desktop, profile section on mobile).
Step 3: Choose Network & Enter Amount
Select "Crypto" as withdrawal method. Choose Polygon network for the lowest fees. Enter the amount you want to withdraw and paste your wallet address.
Step 4: Confirm & Wait
Review the details and confirm. On Polygon, the transaction typically completes in under a minute.
💡 Use Polygon Network
Always withdraw via Polygon when possible. Fees are typically under $0.01 compared to several dollars on Ethereum mainnet.
Method 2: Withdraw to Coinbase
If you have a Coinbase account, Polymarket offers direct integration for easy withdrawals.
Step 1: Connect Coinbase
If you haven't already, link your Coinbase account to Polymarket through the settings or during withdrawal.
Step 2: Select Coinbase Withdrawal
Choose "Coinbase" as your withdrawal method. Enter the amount you want to withdraw.
Step 3: Confirm & Complete
Review and confirm. USDC will appear in your Coinbase account shortly.
Step 4: Sell for USD (Optional)
In Coinbase, you can sell USDC for USD (it's 1:1) and then withdraw to your bank account.
✓ Recommended for Fiat Cash-Out
The Coinbase method is the easiest way to convert your Polymarket winnings to cash in your bank account.
Method 3: Withdraw to Bank Account
If you want cash in your bank, here's the full process:
Step 1: Withdraw USDC to Exchange
Withdraw your USDC from Polymarket to a crypto exchange that supports fiat withdrawals (Coinbase, Kraken, Binance, etc.). Use the exchange's Polygon USDC deposit address.
Step 2: Wait for Deposit
Allow 5-30 minutes for the USDC to appear in your exchange account, depending on the network and exchange processing.
Step 3: Sell USDC for USD
On the exchange, sell your USDC for USD. Since USDC is pegged 1:1 to USD, there's minimal price difference.
Step 4: Withdraw to Bank
Initiate a bank withdrawal from the exchange. ACH transfers typically take 1-3 business days; wire transfers are faster but may have fees.
⚠️ Exchange Fees & Limits
Each exchange has different fees and withdrawal limits. Check your exchange's terms. Most charge nothing for USDC to USD conversion but may have bank withdrawal fees.
Network Options Explained
When withdrawing, you'll choose which blockchain network to use:
| Network | Speed | Fees | Best For |
|---|---|---|---|
| Polygon | < 1 minute | ~$0.01 | Most withdrawals (recommended) |
| Ethereum | 5-15 minutes | $2-20+ | If destination only accepts ETH mainnet |
| Base | < 1 minute | ~$0.01 | If destination is on Base |
⚠️ Double-Check the Network!
Sending to the wrong network can result in lost funds. Make sure your destination wallet/exchange supports the network you're using. When in doubt, use Polygon.
Troubleshooting Common Issues
Withdrawal Not Showing
Wait a few minutes and refresh. If using an exchange, they may require additional confirmations. Check the transaction hash on Polygonscan to verify it was sent.
Insufficient Balance
You can only withdraw available USDC, not funds tied up in open positions. Close positions first or wait for markets to resolve.
Exchange Not Receiving Funds
Ensure you sent to the correct network that the exchange supports for USDC deposits. Some exchanges require multiple confirmations before crediting.
High Gas Fees
If fees seem high, you're probably on the wrong network. Use Polygon for minimal fees. If you must use Ethereum, wait for lower gas periods (usually weekends or late nights).
Frequently Asked Questions
How long does a Polymarket withdrawal take?
Withdrawals on Polygon network complete within minutes. If you're bridging to Ethereum or withdrawing to a centralized exchange, it may take 10-30 minutes. Converting to fiat via an exchange adds additional time depending on the exchange.
What are the withdrawal fees?
Polymarket doesn't charge withdrawal fees. You only pay blockchain gas fees, which are typically under $0.01 on Polygon. Bridging to Ethereum or using exchanges may involve additional fees.
Can I withdraw to a bank account?
Not directly. You need to withdraw USDC to a crypto exchange (like Coinbase), then sell for USD, and finally transfer to your bank. Alternatively, use Polymarket's Coinbase integration for a more streamlined process.
What's the minimum withdrawal amount?
There's no official minimum, but your withdrawal needs to be enough to cover gas fees. Practically, withdrawing less than a few dollars doesn't make sense due to the effort involved.
Can I withdraw while positions are open?
Yes, you can withdraw any available USDC balance. Your open positions remain active. Only USDC not committed to positions can be withdrawn.
Don't Forget About Taxes
Your Polymarket profits may be taxable. Keep records of your trades and withdrawals for tax purposes. Unlike Kalshi, Polymarket doesn't provide tax forms, so you'll need to track your activity yourself.
See our Prediction Market Tax Guide for more information.
Summary
Withdrawing from Polymarket is straightforward:
- Use Polygon network for lowest fees
- Use Coinbase integration for easiest cash-out
- Double-check network and addresses before confirming
- Bank withdrawals require an intermediate exchange
Happy trading, and enjoy your winnings!