Multiphase flow industrial applications require reduced frictional pressure drop (drag) and lower operating costs. Drag reducing polymers (DRPs), which do not require additional infrastructure, meet this requirement. Therefore, this study investigated the effects of water‐soluble polar ZETAG® 8165 and nonpolar oil‐soluble polyisobutylene (PIB) DRPs on pressure gradient and percentage drag reduction using two‐phase air‐water and air‐oil flows, and three‐phase air‐oil‐water flow. The conduit comprised a 22.5 mm I.D. and 2.48 m long horizontal pipe. The fluid flow pattern and DRP shear stability were also studied. The functional mechanism of DRP, not adequately addressed in the literature, was especially revisited. This work suggests that the resultant interaction between the DRP state and the external environment dictates its ability for dampening turbulent eddies, streamlining the velocity field, and …