In this guide
Key takeaway: Polymarket can be used in the vast majority of nations worldwide outside North America. The platform functions as a decentralised blockchain-based system without jurisdiction-specific licensing requirements. Regulatory treatment differs significantly across territories — ranging from outright prohibition (United States) to ambiguous status (United Kingdom, European Union, Australia) to full permissibility (most Asian, African, and South American jurisdictions).
The inquiry "is Polymarket legal?" remains the most frequently posed question in the prediction market space. Your answer hinges on your location, how your government categorises prediction markets (whether as wagering, securities, or information exchanges), and the extent to which your authorities enforce compliance against international platforms.
United States — Explicitly Blocked
US-based individuals cannot access Polymarket. During 2022, Polymarket faced enforcement action from the CFTC (Commodity Futures Trading Commission), resulting in a $1.4 million settlement for operating event contracts without proper authorisation. The service subsequently exited the American market and deployed geographic restrictions alongside identity verification protocols.
Americans seeking lawful prediction market participation can turn to Kalshi, which obtained CFTC authorisation in 2020 and continues broadening its available contracts.
European Union — Evolving Regulation
Prediction market regulation across the EU lacks harmonisation. MiCA (Markets in Crypto-Assets Regulation) achieved comprehensive implementation in 2024 and imposes fresh obligations on cryptocurrency trading services. Nevertheless, prediction markets remain outside MiCA's explicit scope.
On the ground, Polymarket functions across EU member states. Each country enforces distinct gambling and financial regulation:
- Germany: Occupies uncertain legal territory under GlüStV 2021. Not formally prohibited. Consult our German legal guide
- France: The ANJ (gambling regulator) has not issued specific guidance on prediction markets. Available to users
- Netherlands: The KSA pursues unlicensed gambling operators aggressively. Prediction markets sit in regulatory limbo
- Spain: The DGOJ oversees internet gambling. Polymarket exists in a legal gap for unlicensed providers
United Kingdom — Accessible, Unregulated
The UK Gambling Commission has neither licensed nor prohibited Polymarket. Users in Britain enjoy unrestricted access. The FCA's stance toward blockchain-based prediction markets remains undefined. Revenue from prediction markets typically falls under HMRC classification as either capital gains or other income for taxation purposes.
Canada — Accessible
Canadian federal legislation contains no prohibition on consumer participation in prediction markets. Provincial gambling laws concentrate on service providers rather than end-users. Canadians engage with Polymarket without legal impediment.
Australia — Grey Zone
The Interactive Gambling Act focuses enforcement on operators supplying services to Australian residents without authorisation. Direct user involvement in international prediction markets avoids explicit criminal liability, though the regulatory environment remains unclear.
Asia & Rest of World
Polymarket operates without restriction across South-East Asia, the Middle East, Latin America, and the African continent. Exceptions include mainland China (comprehensive internet controls) and a small number of nations with comprehensive cryptocurrency prohibitions.
Tax Obligations Are Universal
Even where Polymarket enjoys legal standing in your region, earnings from prediction markets constitute taxable income in nearly all jurisdictions. PolyGram supplies comprehensive transaction record downloads with FIFO cost-basis calculation to facilitate tax compliance. Engage a qualified accountant familiar with your local tax code.
This piece serves informational purposes exclusively and should not be interpreted as legal counsel. Regulatory frameworks evolve continuously. Obtain guidance from a licensed attorney licensed in your territory before commencing trading.
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