Platform comparison
| Platform | YES odds | NO odds | Fee | KYC | Settlement | |
|---|---|---|---|---|---|---|
Polymarket (via Who Will Win) Pick polygram.ink (preferred broker) |
99% | 1% | 0% (USDC on-chain) | No-KYC up to $1,500 | USDC, auto via UMA oracle | Live odds → |
Polymarket (direct) polymarket.com |
99% | 1% | 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 |
|---|---|
| September 30, 2026 | 99% |
| December 31, 2026 | 99% |
| August 31, 2026 | 97% |
| May 31, 2026 | 0% |
| August 31 | 0% |
| December 31 | 0% |
| October 31 | 0% |
| July 31, 2026 | 0% |
| September 30 | 0% |
| July 19, 2026 | 0% |
| August 15, 2026 | 0% |
| November 30 | 0% |
| March 31, 2026 | 0% |
| January 31, 2026 | 0% |
| February 28, 2026 | 0% |
| June 30, 2026 | 0% |
| April 30, 2026 | 0% |
Market context
The market prices a zero per cent chance that Russian forces will seize control of Kostyantynivka, a city of roughly 70,000 in eastern Ukraine's Donetsk Oblast, by the end of 2025. The settlement window closes on 31 December 2025, leaving just over eleven months for a territorial shift that would require either a major Russian breakthrough or a Ukrainian collapse in the Donbas. Kostyantynivka sits approximately 20 kilometres west of the front line near Pokrovsk, currently held by Ukrainian forces and serving as a logistics hub for Ukrainian operations in the region.
The zero-probability pricing reflects the difficulty of rapid Russian advances in urban terrain and the stabilisation of the front since late 2022. Comparable cases—Mariupol took Russian forces three months of intense fighting in 2022; Bakhmut required nearly a year—suggest that capturing a defended city of Kostyantynivka's size would demand sustained offensive capability and substantial resources. Ukrainian forces have demonstrated capacity to hold or recapture ground in similar circumstances, though Russian artillery and manpower advantages persist in the sector.
Traders monitoring this market should track Russian offensive tempo in the Pokrovsk direction, ammunition supply constraints on both sides, and any major shifts in Western military aid. Recent reporting from January 2025 indicates Russian forces advancing incrementally but facing logistical strain. The consensus appears to treat a Russian capture as effectively impossible within the timeframe, though the market's extreme pricing leaves little room for the compounding effect of Ukrainian attrition or unexpected Russian resource mobilisation.
Methodology
This page is a comparison snapshot: one live quote, four reference venues with their key attributes, and a single execution path — every trade button routes to Who Will Win, which mirrors the Polymarket order book directly.
Resolution & payout
Polymarket-based markets settle through the UMA Optimistic Oracle on Polygon. A proposer submits the outcome, a two-hour challenge window opens, and unchallenged proposals finalise the resolution. Payouts settle automatically in USDC the moment the result is final — no bookmaker, no delay.
Kalshi-based markets settle in USD via the CFTC-regulated clearinghouse. Betfair Exchange settles in GBP/EUR net of commission. Manifold is play-money and does not pay out real funds.
UK Frequently Asked Questions
- Where can I trade this market with the lowest fees?
- Polymarket is geo-blocked in the US/UK/EU. The easiest 0%-fee broker into the same order book is Who Will Win. Kalshi charges up to 7% per trade; Betfair Exchange takes 2-5% commission on net winnings.
- 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.
- 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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