In this guide
Key takeaway: Polymarket operates in most territories outside North America. As a decentralised blockchain protocol, it functions without centralised licensing. Jurisdictional treatment ranges from outright prohibition (United States) to regulatory ambiguity (United Kingdom, European Union, Australia) to full permissibility (majority of Asia, Africa, Latin America).
The query "is Polymarket legal?" remains the most frequently asked question in prediction market discourse. Your answer hinges on your location, how your nation's authorities classify prediction markets (whether as gambling, securities, or information assets), and the enforcement posture your regulator takes toward cross-border platforms.
United States — Explicitly Blocked
US citizens and permanent residents cannot access Polymarket. Following a 2022 enforcement action, Polymarket settled with the CFTC (Commodity Futures Trading Commission) for $1.4 million, having operated event contracts without proper registration. The platform subsequently exited the American market and deployed geofencing alongside identity-verification protocols.
Americans seeking lawful prediction market participation should consider Kalshi, which secured CFTC authorisation in 2020 and continues broadening its contract catalogue.
European Union — Shifting Landscape
EU member states lack harmonised policy on prediction markets. MiCA (Markets in Crypto-Assets Regulation), fully operational since 2024, imposes fresh obligations on crypto trading venues. Prediction markets themselves, however, fall outside MiCA's direct scope.
Practically speaking, Polymarket remains accessible across EU borders. National authorities enforce divergent gambling and investment regulations:
- Germany: Ambiguous status under GlüStV 2021. Not formally prohibited. Consult our German legal guide
- France: The ANJ (gambling regulator) has issued no specific ruling on prediction markets. Available to users
- Netherlands: KSA pursues unlicensed gambling operators aggressively. Prediction markets occupy uncertain legal ground
- Spain: DGOJ oversees online gaming. Polymarket exists in a regulatory void but remains usable
United Kingdom — Available, Not Regulated
The UK Gambling Commission has neither authorised nor prohibited Polymarket. Users in Britain enjoy unrestricted platform access. The FCA's stance on blockchain-based prediction instruments stays opaque. HMRC treats prediction market winnings as either capital appreciation or miscellaneous revenue for tax purposes.
Canada — Unrestricted
Canada's federal framework contains no prohibition on individual participation in prediction markets. Provincial gambling statutes concentrate enforcement on platform operators rather than end-users. Canadian participants trade on Polymarket without legal impediment.
Australia — Uncertain Territory
Australia's Interactive Gambling Act focuses on operators delivering unlicensed services to Australian-based consumers. Direct user participation in foreign prediction venues remains legally uncriminalised, though the regulatory environment lacks clarity.
Asia & Rest of World
Polymarket enjoys broad accessibility throughout South and Southeast Asia, the Gulf region, South America, and sub-Saharan Africa. Exceptions include mainland China (comprehensive digital censorship) and select nations implementing comprehensive cryptocurrency prohibitions.
Tax Obligations Are Universal
Even where Polymarket enjoys explicit legal status, prediction market returns constitute taxable income across virtually all nations. PolyGram furnishes comprehensive transaction records with FIFO cost-basis accounting to facilitate compliance filing. Always engage a qualified tax professional in your territory.
This content serves informational purposes exclusively and should not be interpreted as legal counsel. Regulatory frameworks evolve continuously. Engage a licensed attorney within your jurisdiction prior to commencing trading activity.
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