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How to use Polymarket in Mexico: deposit and withdraw in pesos

Polymarket works in Mexico but does not take pesos. Buy USDC on Bitso, Binance or OKX, send it over Polygon, and reverse the route to cash out.

By Matías MardonesUpdated on October 25, 20264 min read

Does Polymarket work in Mexico?

Yes. Polymarket does not restrict Mexico: the country is not on its official geoblocking list and there is no known local block. What it does not do is accept Mexican pesos. To use Polymarket from Mexico you buy USDC on an exchange, send it to your deposit address on the Polygon network, and run the same route backwards when you want your money out.

Polymarket is not regulated by SEGOB or CNBV. That leaves it in a grey area: it is not forbidden for users, but it has no local licence either. Nothing more than that can be stated with confidence. The current status is on the Mexico page.

Step 1: buy USDC with pesos

These are the exchanges most used in Mexico to get USDC:

Exchange What you do there
Bitso Fund your account in pesos and buy USDC
Binance Buy USDC with whichever methods it offers
OKX Buy USDC with whichever methods it offers

The general process:

  1. Open an account and complete whatever verification the exchange asks for.
  2. Deposit MXN using one of its funding methods.
  3. Buy USDC, a stablecoin worth 1 US dollar.

Each exchange publishes its own buy, sell and withdrawal fees. Check them on its site before moving money: across this whole route, they are the main cost.

Step 2: send USDC to Polymarket over Polygon

  1. On Polymarket, open Deposit and copy your EVM deposit address. Each address is unique to your wallet and network type.
  2. On the exchange, choose Withdraw USDC and select the Polygon network. If your exchange does not offer Polygon, pick another network that Polymarket’s deposit screen lists as supported, and make sure both sides match.
  3. Check the minimum shown on the deposit screen. Minimums change, so do not rely on a figure you read elsewhere.
  4. Paste the address, confirm and wait. Polymarket automatically converts USDC into pUSD, its internal currency.

A wrong network or token can mean losing the transfer for good. If it happens, recovery.polymarket.com exists to try to recover mistaken deposits, with no guarantee. The guide on how to deposit on Polymarket covers each screen in more detail.

The interface also offers card deposits, through an external processor with its own fees that vary by country, and a Coinbase connection.

Step 3: withdraw from Polymarket to pesos

  1. On Polymarket, choose Withdraw. Your pUSD balance is converted into native USDC through a Uniswap pool on Polygon.
  2. Paste your USDC deposit address from Bitso, Binance or OKX and pick the same network on both sides.
  3. On the exchange, sell the USDC for pesos and send them to your bank using that exchange’s methods and timelines.

From the official withdrawal docs:

  • Polymarket charges no withdrawal fee.
  • Withdrawals are instant unless the Uniswap pool is depleted. In that case they can be delayed or fail, and the official advice is to split the amount into smaller withdrawals or wait.
  • You can withdraw pUSD without converting it, but some exchanges do not accept pUSD deposits. To send funds to a Mexican exchange, withdraw as USDC.

What it really costs from Mexico

Item Who charges How much
Depositing to Polymarket Polymarket No fee
Withdrawing from Polymarket Polymarket No fee
Trading as a maker Polymarket No fee
Trading as a taker Polymarket By category, rate from 0 to 0.07
Buying and selling USDC Bitso, Binance or OKX Their published rates
Withdrawing USDC from the exchange The exchange Its published rate
Polygon network The network Cents; usually covered by the exchange

The taker fee formula and worked examples are in the fees guide.

Taxes and first steps

If you make a profit, ask an accountant how to report it. And if you have never traded a prediction market, open the markets board first to watch prices move without risking money.

Frequently asked questions

Is Polymarket available in Mexico?

Yes. Mexico is not on Polymarket’s geoblocking list and there is no known local block. The platform is not regulated by SEGOB or CNBV, which puts it in a grey area.

How do I deposit pesos on Polymarket?

Not directly. Buy USDC with pesos on Bitso, Binance or OKX and send it over Polygon to your Polymarket deposit address, checking the minimum on the deposit screen first.

How do I withdraw money from Polymarket in Mexico?

Withdraw USDC to your exchange address on the same network, sell it for pesos and transfer them to your bank. Polymarket does not charge for the withdrawal; the exchange may.

What if I send USDC on the wrong network?

You can lose it permanently. Polymarket offers recovery.polymarket.com to try to recover mistaken transfers, but there is no guarantee. Double-check the network before confirming.

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