How to trade on Polymarket with Preddy: a step-by-step guide

This guide takes you from no account to a resolved trade, with every step done in Preddy. Setup takes a few minutes. The rest depends on how long your market takes to settle.

If you're new to the idea itself, read what prediction markets are first. Otherwise, you need a few dollars in stablecoins (or SOL) in a wallet or on an exchange, and that's it.

Step 1: Create an account and sign in

Press the login button in the header. The login window offers:

• Email: type your address, then enter the 6-digit code Preddy sends you.
• Google, X or Telegram: one click each.
• Connect Wallet: if you'd rather sign in with a crypto wallet you already use.

Your account comes with a Preddy wallet. It's self-custodial: keys are protected by Privy embedded wallets, neither Preddy nor Privy can see your private key, and you can export it any time. By default Preddy can't do anything on your behalf; every transaction needs your approval. The wallet security page explains the details.

Step 2: Add money

Open the deposit window with Add Money in the account menu (top right) or on your Portfolio page. While your balance is empty, the header also shows a Deposit button.

1. Under Supported Chain, pick the network you're sending from. Under Supported Token, pick the token.
2. Copy your Deposit Address (or scan the QR code). Copy it after choosing network and token, because the address can change with them.
3. Send that token, on that network, from your wallet or exchange. The minimum is $1.

Whatever you send becomes a dollar trading balance. Polygon, Ethereum, Solana, Base and a few other networks are supported, and the window lists exactly which tokens work on each. Polygon is the cheapest route. Not sure about costs? Simulate deposit shows what you'll receive, the network fee and the expected time before you send anything.

The full walkthrough, including what to do if a deposit doesn't show up, is in the Add money lesson.

Step 3: Find a Polymarket market

Start at Events. You can browse by category, open lists like trending, new or ending soon, or search by keyword. Star markets and categories you care about so they're easy to find later.

Each event page shows one or more markets. A single question ("Will X happen by June 30?") has one market with Yes and No. An event like "Who will win the election?" has a market per candidate. Those work a little differently, and multi-outcome markets explains how.

Step 4: Read the rules before you buy

Open the Rules tab on the market. It says exactly what counts as Yes, which source decides it and what happens in edge cases. The title is a summary. The rules are the contract.

A hypothetical example: "Will the bill pass by March 31?" Does "pass" mean one chamber or both? Signed into law? What timezone is the deadline in? That's how people lose money while being right about the news: the rules said something else. How prediction markets resolve covers this properly.

Step 5: Buy Yes or No

Every share pays $1 if its outcome wins and $0 if it loses. The price is in cents and reads as the market's probability: Yes at 40¢ means the crowd gives it roughly a 40% chance. Prediction market odds and probability goes deeper on reading prices.

Press Buy Yes or Buy No next to the market. The betslip opens (on the right on desktop, as a sheet on mobile):

1. Enter how much you want to spend in Amount.
2. Check Avg. Price (what you'll pay per share), Total Bet (what you pay, fees included) and To Win (what you get back if you're right).
3. Confirm. The position appears in Portfolio.

Worked example. You put $50 into Yes at 40¢. That buys 125 shares ($50 ÷ $0.40). With a market order, Preddy's 0.5% fee adds $0.25, so you pay $50.25 in total. If Yes wins, the 125 shares pay $125, a $74.75 profit. If No wins, you lose $50.25.

Market or limit?

The betslip starts on Market: you buy right away at the best prices on offer and pay the 0.5% fee. Switch to Limit in the menu at the top of the betslip to set your own price. A limit order only fills at that price or better, waits under Orders until someone takes it, and has no Preddy fee.

In a quiet market, a big market order can eat through several price levels and fill well above the price on the button. Always check Avg. Price before you confirm. Market vs limit orders explains the orderbook, the spread and when each order type makes sense.

Step 6: Manage the position

You don't have to wait for the market to end. Prices move as news comes in, and you can sell any time before resolution.

In Portfolio, press Sell next to the position, or open the market and switch the betslip to Sell. Enter the number of shares and check Payout before confirming.

Back to the example. A week later, Yes trades at 65¢. Selling all 125 shares with a market order pays $81.25 minus about $0.41 in fees, roughly $80.84. That's about $30.59 profit on $50.25, without waiting for the outcome. A limit sell at 65¢ would avoid the fee, but only fills if a buyer meets your price.

Portfolio shows open and closed positions, open orders, and P&L for each, so you can see where you stand at a glance.

Step 7: Set a stop loss and alerts

You can't watch every market all day. Two tools cover the gap.

Stop loss. On a position you hold, switch the betslip to Sell, open the order-type menu and choose Stop Loss. Set a trigger price and how many shares to sell. If the price drops to or below the trigger, Preddy places a market sell for you. You can stack several, for example half the position at 30¢ and the rest at 20¢. Take Profit sits in the same menu for the opposite case.

Two things to know: a stop loss is a rule, not a guaranteed price (in a thin market the sell can fill below your trigger), and it needs offline signing, an opt-in permission limited to trading actions. Full details in Stop losses. For how to size positions in the first place, see position sizing and risk.

Alerts. Set a price alert on the market (fires when Yes or No crosses a level you choose), a resolution alert, or alerts on your own fills. They arrive in the app, as a Telegram message from the Preddy bot, or both. See Alerts for every alert type and how to link Telegram.

Step 8: Get paid when the market resolves

When the event is over and the market resolves, each winning share is worth $1 and each losing share $0. Resolution is official, not instant: it can take a while after the game ends or the news breaks.

If you haven't turned on auto-redeem, a Claim button appears next to your balance once you've won. Press it (or Claim All in Portfolio), confirm, and the money moves into your cash balance. To skip this step for good, open Settings and turn on Auto-Redeem in General Settings. It's set per account. The claim your winnings lesson has the details.

Lost positions have nothing to claim. They move to the Closed tab with your loss recorded.

What Preddy adds on top

The steps above are the core loop. Beyond it:

• Stop losses sell automatically at your trigger, even when you're offline. Docs
• Alerts cover wallets you follow, big trades, price moves, volatility, new markets and resolutions, in-app or on Telegram. Docs
• Copytrading follows another trader's wallet and mirrors their buys and sells with your own budget, sizing and filters. Read does copy trading work? before you try it, then the Copy Trading docs.
• Pro terminal is a desktop workspace you build from widgets: orderbooks, ladders, live trades, charts and more. Learn it in the Pro track.

What does it cost?

The fee is added on top of the order amount. Polymarket may charge its own fees on some market types; those are separate from Preddy's. See Fees.

Mistakes to avoid on your first trades

• Sending the wrong token or network. Double-check both before you send.
• Skipping the rules. Read them once per market. It takes a minute.
• Big market orders in thin markets. Look at Avg. Price, or use a limit order.
• Treating 95¢ as free money. You risk 95¢ to make 5¢. One surprise wipes out nineteen wins.
• Going too big too early. Start with a few dollars to learn how buying, selling and claiming feel.

Ready? Browse markets and make a small first trade. If you want the condensed version later, Getting Started maps out the rest of Preddy.