> ## Documentation Index
> Fetch the complete documentation index at: https://docs.openfinance.tech/llms.txt
> Use this file to discover all available pages before exploring further.

# Polymarket From Research to Redeem

> Follow one prediction market trade through its whole life, from the first search to the payout, with the checks that keep a small mistake from costing you.

By the end of this guide you will have researched a Polymarket market, placed a limit order from your deposit wallet, followed it until the market resolved, and redeemed and withdrawn the result.

On Polymarket a share price is a probability between 0 and 1. A Yes share at 0.42 costs 42 cents and pays 1 dollar if Yes wins. Polymarket trades from a separate **deposit wallet** that holds **pUSD**, not from your main wallet address. See [Polymarket](https://docs.openfinance.tech/markets/polymarket.md).

## What you need

* pUSD in your Polymarket deposit wallet, or funds you can move there. See [Fund each venue](https://docs.openfinance.tech/guides/fund-each-venue.md).
* Polymarket available where you live. Polymarket features are not available where Polymarket itself is not.

## Steps

**1. Find the market**

```text theme={"system"}
Search Polymarket for markets on the next Fed rate decision. Show the top five by volume with their current Yes prices and end dates.
```

Pick one market. Many events group several markets, so make sure you are looking at the exact question you want to trade.

**2. Read the rules and the book**

```text theme={"system"}
For that market, show the full question and resolution rules, the order book for Yes and No, the spread, the last trade price and the tick size.
```

A wide spread or a thin book means a market order could fill well away from the mid price. The tick size is the smallest price step; your limit price must sit on it.

**3. Check your balance**

```text theme={"system"}
What is my Polymarket balance, and where does the pUSD sit?
```

The answer should show pUSD in the deposit wallet. If it is on your main address or arrived as USDC.e, ask the agent to move or convert it first.

**4. Preview a limit order**

```text theme={"system"}
Buy 20 dollars of Yes on that market at no more than 0.42. Use a limit order, good till cancelled. Show me the order before placing it.
```

The summary should name the market, the outcome, the side, the price, the number of shares and the total cost.

**5. Place it (moves money)**

Reply yes if every field matches. Then check it:

```text theme={"system"}
Show my open Polymarket orders.
```

A limit order rests until it fills, you cancel it, or its expiry passes if you set one.

**6. Follow the position**

```text theme={"system"}
What are my open Polymarket positions, with average price, current price and profit and loss?
```

To get out early, sell the shares: "Sell all my Yes shares on that market at 0.55 or better."

**7. Redeem after resolution (moves money)**

```text theme={"system"}
Redeem all my resolved Polymarket positions, then show my balance.
```

Redeeming does not cost you gas. Some payouts arrive as USDC.e; ask "Convert my USDC.e to pUSD" to make them tradeable again.

**8. Withdraw if you want to cash out (moves money)**

```text theme={"system"}
Withdraw 50 pUSD from Polymarket to USDC on Base, to my own wallet.
```

Withdrawals go through Polymarket's bridge, to your own wallets only.

Every order, redeem and withdrawal needs your confirmation, and nothing here is financial advice. Shares on the losing side go to zero.

## Check it worked

* The order appears in your open orders, or as a position once filled.
* After redeeming, the resolved market is gone from your positions and your pUSD balance went up by the payout.

## Common mistakes

* **Rejected for balance with pUSD in your wallet.** The pUSD is on your main address, not the deposit wallet.
* **Rejected for tick size.** Round the price to the market's tick.
* **Very small orders.** Polymarket rejects orders below about one dollar of value.
* **Trading the label, not the rules.** Read how the market resolves before you buy.
* **Market orders in thin books.** Use a limit price when the spread is wide.

## Next guides

> [card] [Track other traders](https://docs.openfinance.tech/guides/track-other-traders.md)
>
> Read the leaderboard and any trader's positions.

> [card] [Hyperliquid outcome markets](https://docs.openfinance.tech/guides/hyperliquid-outcome-markets.md)
>
> Yes or No markets on Hyperliquid.


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.