Polymarket has introduced taker fees on its 15-minute crypto up-or-down markets, marking a change from the platform’s long-standing zero-fee trading model.
The update appeared through revisions to Polymarket’s public documentation rather than a formal announcement.
A quiet shift away from zero fees
Updated sections of the site’s “Trading Fees” and “Maker Rebates Program” pages show that the new fees apply only to takers in these short-duration crypto markets.
The fees are not retained by Polymarket. Instead, they are redistributed daily to liquidity providers in USDC, functioning as maker rebates rather than protocol revenue.
Archived versions of the documentation indicate that the fee language was added recently.
How the fee structure works
The fee level varies with market odds. Charges are highest when prices are close to a 50% probability and decline as odds move toward either extreme.
Examples included in the documentation show that a taker order for 100 shares priced at $0.50 would incur a fee of about $1.56, slightly above 3% at the peak of the curve. As probabilities approach 0% or 100%, fees fall sharply.
Very small trades are rounded down.
The structure applies only to 15-minute crypto markets. Other Polymarket markets remain unchanged.
Market reaction and liquidity incentives
The documentation update prompted discussion on X, where several traders focused on the mechanics of the change rather than its headline implication.
An account using the handle 0x_opus described the fees as a liquidity measure rather than a platform charge, arguing that the design adds friction to wash trading while redirecting fees back to market makers. In a separate post, trader kiruwaaaaaa said the change appeared aimed at high-frequency strategies, with fee-funded rebates encouraging tighter spreads and more consistent order book depth.
Another trader, Tawer955, published a longer breakdown describing the update as “scary at first glance,” but less impactful once the rebate structure is considered.
He argued that the model creates a predictable incentive for liquidity providers while reducing strategies that previously benefited from zero-cost churn.
Limited impact for most users
For most Polymarket participants, the practical effect will be narrow. The new fees apply only to 15-minute crypto markets. Longer-duration event contracts, political markets, and non-crypto predictions remain fee-free.
Even within the affected markets, the design reduces the burden on directional trades placed far from the midpoint. Fees decline near probability extremes and remain modest for typical position sizes.
Gunel Ismayilova
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