Key takeaway: Polymarket operates legally and is accessible across most territories, though it occupies uncertain regulatory space in numerous jurisdictions. Residents of the United States cannot use the platform. Review applicable gambling and financial regulations in your region before engaging.
Is Polymarket legal? The response varies based on your location. Because Polymarket functions as a decentralised blockchain-based protocol, no single regulatory body governs it — yet national regulations still apply to participants.
United States — Blocked
American citizens and those residing in the US cannot access Polymarket. Following a 2022 CFTC enforcement action resulting in a $1.4 million penalty for offering unregistered derivatives contracts, Polymarket exited the American market and implements geoblocking for US-based internet addresses. Circumventing this restriction through VPN technology breaches Polymarket's user agreement.
United Kingdom — Grey zone
The UK's Gambling Commission has neither formally authorised nor prohibited prediction market platforms such as Polymarket. The platform remains accessible to British users, though they operate without official regulatory safeguards. Revenue generated through trading must be reported according to HMRC requirements.
Germany — Grey zone
Germany's Glücksspielstaatsvertrag (GlüStV 2021) establishes the framework for internet-based gaming activities. Prediction markets occupy an unclear position within this regulatory framework — neither formally approved nor explicitly prohibited. Residents of Germany can use Polymarket without impediment, though potential legal exposure remains. Our comprehensive German legal analysis covers this topic in greater depth.
Canada — Accessible
Canada does not impose a national-level restriction preventing consumers from engaging with prediction markets. Gambling rules differ across provinces, yet Polymarket remains broadly available and actively utilised by Canadian market participants.
Australia — Grey zone
Australia's Interactive Gambling Act concentrates enforcement on platform operators rather than end users. Australians can engage with Polymarket with comparatively modest legal concerns, though the regulatory status remains somewhat uncertain.
⚠️ This article is for informational purposes only and does not constitute legal advice. Laws change frequently — consult a local lawyer for guidance specific to your situation.
Tax obligations everywhere
Across virtually all jurisdictions, trading income must be reported to tax authorities. The UK typically applies Capital Gains Tax to such earnings. Germany levies income tax on comparable gains. Maintain comprehensive documentation of all transactions for tax compliance purposes.
PolyGram supplies a downloadable transaction record feature to streamline tax preparation. Start trading on PolyGram →