In this guide
Key takeaway: Polymarket operates across most territories beyond the United States. The platform functions as a decentralised blockchain-based system without centralised licensing in any single jurisdiction. Regulatory treatment spans a spectrum: outright prohibition (United States), ambiguous status (United Kingdom, European Union, Australia) to fully permissive frameworks (majority of Asia, Africa, Latin America).
Whether Polymarket remains legal represents the most frequently queried topic within prediction-market discourse. Your answer hinges on your geographic location, how your nation's authorities classify prediction markets (as gambling, derivatives, or information products), and enforcement intensity against international platforms operating outside domestic oversight.
United States — Explicitly Blocked
US citizens and permanent residents cannot access Polymarket. During 2022, the platform settled with the CFTC (Commodity Futures Trading Commission), paying $1.4 million in penalties for offering binary contracts without proper registration. The service subsequently exited the American market, deploying geographic blocking and identity-verification systems.
Americans seeking lawful prediction-market participation should explore Kalshi, which secured CFTC authorisation in 2020 and continues broadening its contract catalogue.
European Union — Evolving Regulation
Member states within the EU maintain divergent approaches to prediction markets. MiCA (Markets in Crypto-Assets Regulation) achieved full implementation during 2024, imposing stricter governance on crypto trading venues. Yet MiCA does not explicitly address prediction markets as a category.
Practically speaking, Polymarket remains accessible throughout EU territories. Each country applies distinct gambling and investment regulations:
- Germany: Occupies grey-zone status under GlüStV 2021. No explicit prohibition. See our German legal guide
- France: ANJ (national gambling regulator) has issued no specific ruling on prediction markets. Accessible to residents
- Netherlands: KSA enforces strict licensing requirements for gambling operators. Prediction markets occupy uncertain legal terrain
- Spain: DGOJ oversees internet gambling activity. Polymarket functions without domestic licensing approval
United Kingdom — Accessible, Unregulated
The UK's Gambling Commission has neither authorised nor prohibited Polymarket operations. Residents enjoy unrestricted platform access. The FCA's regulatory stance toward blockchain-based prediction products remains undefined. Revenue authorities (HMRC) typically treat prediction-market earnings as either investment gains or miscellaneous profits for tax purposes.
Canada — Accessible
Canadian federal legislation contains no provisions preventing individual participation in prediction markets. Provincial gambling statutes concentrate regulatory oversight on service providers rather than end-users. Canadian participants engage with Polymarket without legal impediment.
Australia — Grey Zone
The Interactive Gambling Act primarily targets overseas operators delivering unlicensed services to Australian-based customers. Direct user participation in international prediction platforms remains legally unspecified, creating regulatory uncertainty.
Asia & Rest of World
Polymarket enjoys broad accessibility throughout South-East Asia, the Gulf region, Central and South America, and the African continent. Exceptions include mainland China (comprehensive digital restrictions) and select nations implementing comprehensive cryptocurrency prohibitions.
Tax Obligations Are Universal
Irrespective of Polymarket's legal standing in your territory, earnings from prediction markets constitute taxable revenue across virtually all jurisdictions. PolyGram furnishes comprehensive transaction-history downloads employing FIFO accounting methodology for compliance documentation. Engage a qualified tax professional within your region.
This content serves informational purposes exclusively and should not be construed as legal counsel. Regulatory frameworks evolve continuously. Retain independent legal counsel licensed in your jurisdiction before commencing trading activity.
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