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There is no house on polymarket, it's pvp.
Not true, polymarket and kalshi have a lot of system bets, basically bets where the other side is the market, and further they take a cut from the money gambled.

There are other things as well, like they control which side wins, so they can leverage trade or even swing trade internally with a few bot accounts, not saying that they do but I don't see a ToC that says they can't.

Polymarket can market-make, but so can you (i.e be on the both sides of the order book). You can't do that in a casino for instance.

They don't control which side wins (UMA voters do). You should read up about prediction markets and in general sport gambling. Sport gambling platforms with a "house" usually derive their odds from pvp markets. Polymarket is similar to a classic order book market.

1. Kalshi doesn't use UMA. 2. Yeah spend more money to get UMA votes to decide controversial decisions. That's how polymarket works.

I have a lot of experience with similar systems, that's what we call rigging the election.

Imagine a handful of anonymous UMA wallets dominate Polymarket’s contested resolutions, and reporters have linked some deciding wallets to positions in the very markets they judged.

:But you don't have to it happens way too often and there is no oversight against it: https://www.wsj.com/finance/polymarket-bet-disputes-fb1b8c6a https://www.barrons.com/articles/polymarket-prediction-marke...

I hope we can all agree to read this stuff.

> Polymarket can market-make, but so can you (i.e be on the both sides of the order book). You can't do that in a casino for instance.

That's like saying Elon can be a trillionaire, but so can you, I mean sure, anyone can, but how lucky do you think you have to be for your market to actually get any meaningful traction and for you to make any money. And even when you do, you are basically suggesting you should insider trade or rig bets to make money... I am certain that might be a flex for some but man I don't think that's the dunk you were looking for.

At the end the only folks making money are the markets, but who am I to stop the blind. Best of luck, hopefully you don't regret it. I only hope people don't get addicted or robbed by this stuff, rich people can have their own fun I don't really care.

Of course there is a house. You have a spread and probably a ton of other not so obvious fees. The house always wins by design, especially on polymarket.
No not really. Polymarket collects fees which are simple and deterministic. Bets on outcomes are tokens on the blockchain and can be "split" ($1 into YES/NO outcome tokens) and "redeemed" (YES & NO outcome tokens into $1). Placing a bet is simply a market order on a plain ol' central-limit orderbook for these tokens. The only house there is maybe the market makers, which isn't a house. If it were a type of "house", then NYSE/NASDAQ has a house too.
In general, so is sports betting at a casino. It seems many people don’t understand this. You aren’t betting against the casino, you are betting against the other gamblers. The house “wins” because of the juice, eg. even odds past out -110. A smart book is going to try to keep the money balanced, but that’s not always the case in practice
They take cuts.
This is not what a "house" is, such as the "house edge" you get in a lottery game.