In this guide
Key takeaway: Polymarket operates legally and can be accessed across most territories, though it occupies uncertain legal territory in numerous jurisdictions. Residents of the United States face access restrictions. Always review the gambling and financial regulations applicable in your region before engaging.
Is Polymarket legal? The response varies based on your location. Because Polymarket functions as a decentralised blockchain-based protocol without a single regulatory authority, this doesn't mean that national legislation ceases to apply to participants.
United States — Blocked
US-based citizens and residents cannot use Polymarket. Following a 2022 CFTC enforcement action resulting in a $1.4 million penalty for providing unregistered derivatives contracts, Polymarket exited the American market and implements geographical blocking of US traffic. Circumventing this restriction using a VPN breaches the platform's user agreement.
United Kingdom — Grey zone
Prediction markets such as Polymarket have not received explicit authorisation or prohibition from the UK Gambling Commission. The platform remains accessible to British users, though they operate outside the scope of regulatory safeguards. Tax authorities expect all earnings to be reported in line with HMRC requirements.
Germany — Grey zone
The German gambling framework (GlüStV 2021) establishes rules governing digital gambling operations. Prediction markets occupy an uncertain position within this regulatory structure — neither formally approved nor expressly prohibited. German participants can access Polymarket's markets without facing explicit legal barriers, though some legal uncertainty persists. Our comprehensive German legal guide explores this further.
Canada — Accessible
Canada's legislation contains no blanket restriction preventing consumers from engaging with prediction markets. Gambling rules differ between provinces, yet Polymarket remains widely available and actively used throughout the country by market participants.
Australia — Grey zone
Australia's Interactive Gambling Act concentrates enforcement on platform operators rather than individual users. Australian participants can engage with Polymarket with relatively minimal legal exposure, though the regulatory environment retains some ambiguity.
⚠️ 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 countries, trading income must be reported to tax authorities. The UK may impose Capital Gains Tax on your earnings. German tax law treats such profits as taxable income. Maintain comprehensive documentation of all transactions for compliance purposes.
PolyGram supplies a downloadable transaction record feature to streamline your tax filing process. Start trading on PolyGram →