Key takeaway: Betfair operates under regulatory oversight, accepts traditional currencies, and appeals to sports enthusiasts. Polymarket functions without regulation, runs on blockchain technology, and specialises in forecasting political outcomes and real-world events. When it comes to European political forecasting, Polymarket demonstrates superior market depth and selection.
Across Europe, two major players shape the prediction market landscape: Betfair (the established betting exchange pioneer) and Polymarket (the blockchain-powered forecasting platform). What distinguishes them?
At a glance
| Feature | Polymarket | Betfair |
| Founded | 2020 | 2000 |
| Regulation | Unregulated (decentralised) | FCA, Malta, Gibraltar licensed |
| Currency | USDC (stablecoin) | GBP, EUR, AUD |
| Market types | Politics, crypto, science, culture | Sports, politics, entertainment |
| Fees | ~2% (spread-based) | 2–5% commission on winnings |
| Deposits | USDC, MoonPay | Card, bank transfer, PayPal |
Where Polymarket wins
- Political markets: Superior trading volume exists on Polymarket for US presidential contests, European governance shifts, and international tensions relative to competing platforms
- Transparency: Blockchain-verified conclusions provide complete auditability; Betfair's settlement procedures remain less transparent
- Market variety: Digital asset valuations, technological breakthroughs, and academic research outcomes are accessible on Polymarket but absent elsewhere
- No bookmaker margin: User-generated pricing replaces house-imposed spreads
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's primary focus; Polymarket provides minimal live sports coverage
- Fiat deposits: Traditional payment methods work seamlessly without blockchain familiarity
- Regulation: FCA authorisation ensures investor safeguards and harm-prevention features
- Track record: Two and a half decades of market operation, established complaint handling procedures
Our verdict
Those seeking exposure to political forecasting will find Polymarket the superior choice. PolyGram simplifies Polymarket participation without requiring cryptocurrency expertise. Start trading on PolyGram →