In this guide
Key takeaway: Polymarket operates legally across most regions worldwide, though it occupies an uncertain regulatory position in numerous territories. Citizens of the United States face access restrictions. Review applicable gambling and investment regulations in your jurisdiction before engaging.
Is Polymarket legal? The response varies significantly based on your location. Given that Polymarket functions as a blockchain-based decentralised protocol, no single regulator has authority — yet national regulations still bind individual users.
United States — Blocked
US persons and residents cannot use Polymarket. Following a 2022 CFTC enforcement action resulting in a $1.4 million penalty due to offering unregistered event derivatives, Polymarket ceased US operations and implements IP-based restrictions targeting American users. Circumventing these blocks through VPN technology breaches the platform's user agreement.
United Kingdom — Grey zone
The Gambling Commission in the UK has neither formally authorised nor prohibited platforms such as Polymarket. The service remains openly available to British users, yet operates absent official regulatory oversight. Tax authorities expect participants to report earnings in line with HMRC requirements.
Germany — Grey zone
Under the Glücksspielstaatsvertrag (GlüStV 2021), German law addresses online gaming comprehensively. Prediction markets occupy an undefined space within this framework — neither formally sanctioned nor expressly forbidden. German participants can freely access Polymarket, though legal uncertainty persists. Our comprehensive analysis of German regulations explores this further.
Canada — Accessible
No nationwide statute prohibits consumer participation in prediction markets across Canada. Although provincial gaming rules differ across regions, Polymarket remains broadly available and widely utilised by Canadian market participants.
Australia — Grey zone
The Interactive Gambling Act focuses enforcement primarily on service providers rather than individual participants. Users in Australia can engage with Polymarket with relatively limited exposure, though regulatory certainty remains incomplete.
⚠️ 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 nations, tax authorities mandate disclosure of investment returns. The UK typically applies Capital Gains Tax to such earnings. German authorities impose income tax obligations. Maintain comprehensive documentation of all transactions for compliance purposes.
PolyGram supplies downloadable transaction records to streamline your tax preparation process. Start trading on PolyGram →