If you’re in Canada and looking to get into prediction markets, you’re in a good spot. Polymarket is accessible to Canadian users, but there are a few specific steps and considerations to keep in mind to make the process smooth. Here’s your guide to using Polymarket from the Great White North.

Funding Your Account from Canada

This is the most important step for any Canadian user. Since Polymarket uses USDC, you need an efficient way to get it. The most common route is to use a Canadian-friendly crypto exchange.

  1. Buy Crypto on a Canadian Exchange: Sign up for a platform like Shakepay, Newton, or NDAX. These are popular in Canada and make it easy to buy cryptocurrencies like Ethereum (ETH) or Bitcoin (BTC) with Canadian dollars via Interac e-Transfer.
  2. Send to an International Exchange: While some Canadian exchanges offer USDC, you often get better rates by sending your ETH or BTC to a larger international exchange (like Coinbase or Kraken), trading it for USDC there, and then sending the USDC to your Polymarket wallet.
  3. Direct On-Ramp (The Simpler, Pricier Option): You can also use services like MoonPay directly on the Polymarket site to buy USDC with a credit card. It’s faster but usually comes with higher fees.

Navigating the Legal Landscape

For Canadians, the regulatory environment around crypto and platforms like Polymarket is more permissive than in the US. While it’s always crucial to be aware of the rules, Canadians can generally use the platform without the geo-restrictions faced by their southern neighbors. This puts Canada in a unique position when considering where is Polymarket legal.

Placing Trades and Cashing Out

Once your account is funded, the experience of trading is the same for everyone. You can how to bet on Polymarket on any market available.

When it’s time to cash out your winnings, you’ll simply reverse the funding process. Send your USDC from Polymarket back to the exchange where you bought it, convert it back to Canadian dollars, and withdraw it to your Canadian bank account. The process of cashing out is a key part of the experience, so knowing how to withdraw from Polymarket is essential.

For Canadians looking for an edge in forecasting, Polymarket is a powerful and accessible tool. With a bit of setup, you can be up and trading in no time.