Platform comparison
| Platform | YES odds | NO odds | Fee | KYC | Settlement | |
|---|---|---|---|---|---|---|
Polymarket (via Prediction Today) Pick polygram.ink (preferred broker) |
62% | 38% | 0% (USDC on-chain) | No-KYC up to $1,500 | USDC, auto via UMA oracle | Live odds → |
Polymarket (direct) polymarket.com |
62% | 38% | 0% | Geo-blocked in US/UK/EU | USDC, on-chain | Live odds → |
Kalshi kalshi.com |
— | — | Up to 7% per trade | US-only, KYC required | USD | Live odds → |
Betfair Exchange betfair.com |
— | — | 2-5% commission | Full KYC from first trade | GBP / EUR | Live odds → |
Manifold Markets manifold.markets |
— | — | Play-money (mana) | None — play-money | Mana (no cash-out) | Live odds → |
Outcome probabilities
Current market-implied probability for each outcome, from the live order book.
| Outcome | Probability |
|---|---|
| Lisa Demuth | 62% |
| Mike Lindell | 36% |
| Kendall Qualls | 1% |
| Scott Jensen | 0% |
| Jeff Johnson | 0% |
| Patrick Knight | 0% |
| Brad Kohler | 0% |
| Chris Madel | 0% |
| Phil Parrish | 0% |
| Kristin Robbins | 0% |
| Other | 0% |
| Candidate B | 0% |
| Candidate C | 0% |
| Candidate D | 0% |
| Candidate E | 0% |
| Candidate F | 0% |
| Candidate G | 0% |
| Candidate H | 0% |
| Candidate I | 0% |
| Candidate J | 0% |
| Candidate K | 0% |
| Candidate L | 0% |
| Candidate M | 0% |
| Candidate N | 0% |
| Candidate O | 0% |
| Candidate P | 0% |
| Candidate Q | 0% |
| Candidate R | 0% |
| Candidate S | 0% |
| Candidate T | 0% |
| Candidate U | 0% |
| Candidate V | 0% |
| Candidate W | 0% |
| Candidate X | 0% |
| Candidate Y | 0% |
| Candidate Z | 0% |
Market context
The immediate change over the last 24–48 hours is that Minnesota’s Republican governor primary is now at the point of early voting ending and Election Day arriving on Tuesday, 11 August, with the field still described as seven candidate pairs on the ballot and no sign of a late cancellation or postponement.[8][11] Recent coverage still frames the contest as a three-way race at the top, with Lisa Demuth, Mike Lindell and Kendall Qualls attracting most of the attention, while a fresh poll published over the weekend showed Lindell narrowly ahead of Demuth, which helps explain why the market sits above even odds on a single winner.[14][11]
The 62% price looks consistent with a race where the party’s endorsement and higher name recognition are helpful but not decisive. Demuth won the state party’s informal straw poll, Qualls has the official party endorsement in some coverage, and Lindell has maintained the loudest media profile, so the primary has not consolidated around one clear front-runner.[2][7][15] Comparable Minnesota primaries tend to reward whichever candidate best converts factional backing into turnout rather than simply the best-known name, which leaves room for late movement when the electorate is small and organisationally driven.[2][7]
For traders, the main catalysts are the final day of voting, any last-minute campaign statements, and the first formal result release from the Minnesota Republican Party, which the market will use as the settlement source.[8] If results are delayed or the party issues only partial returns, credible local reporting may become the key signal, especially given that several outlets are already treating the race as highly competitive and close enough that a narrow finish would not be surprising.[11][14][9]
Methodology
We track Minnesota Governor Republican Primary Winner across the five venues with material prediction-market liquidity. The probability shown is the live Polymarket mid; the comparison rows summarise how each venue treats the underlying contract — fees, KYC thresholds, settlement currency, deposit options. The highlighted row marks the cheapest route into Polymarket's order book.
Resolution & payout
At resolution the UMA oracle takes over: a proposer posts the outcome with a bond, any token holder can dispute within two hours. Without dispute the result is accepted and the smart contract distributes USDC instantly.
On Kalshi (CFTC-regulated) resolution runs through their in-house clearing engine in USD. Betfair Exchange settles after match end in the account's local currency. Manifold pays no cash — only its in-platform "mana" currency.
UK Frequently Asked Questions
- Is this market available outside the US?
- Polymarket itself is geo-blocked in the US/UK/EU. Always check the legal status of prediction markets in your jurisdiction before trading.
- What's the difference between YES and NO shares?
- A YES share pays $1.00 if the event happens, $0 otherwise. A NO share pays $1.00 if the event doesn't happen. The market price between 0¢ and 100¢ is the implied probability.
- Is Polymarket legal in the UK?
- Polymarket is accessible to UK traders but is not UKGC-licensed. It operates under US CFTC jurisdiction. UK residents face no domestic legal prohibition on using it, but UKGC consumer protections do not apply. For UKGC-regulated alternatives, Betfair Exchange and Smarkets offer similar prediction-style markets.
- Do I pay tax on prediction market profits in the UK?
- UKGC-licensed platform profits (Betfair, Smarkets) are typically tax-free gambling winnings for UK individuals. Polymarket profits involve USDC crypto transactions, which HMRC treats as Capital Gains Tax events. Keep full transaction records and report via Self Assessment if gains exceed £3,000 per tax year.
- How do I deposit on Polymarket from the UK?
- UK traders typically fund Polymarket via Coinbase UK, Kraken or Revolut — buying USDC with GBP and transferring to a Polygon-compatible wallet (MetaMask, Coinbase Wallet). Polymarket's onboarding walks you through the bridging process. Typical GBP-to-USDC conversion costs 0.5–1%.
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