Crypto
USDC
A dollar-pegged stablecoin issued by Circle, used as the settlement currency on Polymarket and on Hyperliquid.
Polymarket contracts are priced and settled in USDC on the Polygon network; depositing dollars means converting to USDC first. Hyperliquid uses USDC on its own chain as perp margin. A Yes share pays 1 USDC at resolution.
Stablecoin settlement is why offshore prediction markets could operate globally and why US regulators treated them differently from exchanges that take bank deposits. Polymarket US and Kalshi settle in dollars through regulated custodians.
For a trader the practical issues are on-ramp fees, network fees and the small but real risk of a stablecoin losing its peg.
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Frequently asked questions
- What does "USDC" mean?
- A dollar-pegged stablecoin issued by Circle, used as the settlement currency on Polymarket and on Hyperliquid.
- Why does usdc matter for prediction markets?
- For a trader the practical issues are on-ramp fees, network fees and the small but real risk of a stablecoin losing its peg.