Key takeaway: Polymarket remains accessible and lawful across most nations, though it occupies an uncertain regulatory space in numerous jurisdictions. Residents of the United States cannot use the platform. Always review the gambling and financial regulations applicable in your territory before engaging.
Is Polymarket legal? The response varies depending on your location. Because Polymarket functions as a decentralised blockchain-based protocol, no single regulatory authority governs it — yet this does not exempt users from adhering to their national laws.
United States — Blocked
American citizens and permanent residents cannot use Polymarket. Following a $1.4 million CFTC settlement in 2022 due to offering unregistered event contracts, Polymarket exited the American market and enforces geoblocking on US-based internet connections. Circumventing this restriction through a VPN breaches Polymarket's user agreement.
United Kingdom — Grey zone
The UK Gambling Commission has neither formally authorised nor prohibited prediction markets such as Polymarket. The platform remains openly accessible to British users, though they lack statutory regulatory safeguards. Tax authorities expect all earnings to be reported in line with HMRC requirements.
Germany — Grey zone
Germany's Glücksspielstaatsvertrag (GlüStV 2021) establishes a framework for internet-based gambling activities. Prediction markets occupy an uncertain legal position — they are neither formally sanctioned nor explicitly forbidden. German participants can use Polymarket without impediment, though potential legal exposure persists. Our comprehensive German legal guide covers this in depth.
Canada — Accessible
No federal law in Canada prohibits consumer participation in prediction markets. Gambling oversight differs across provinces, yet Polymarket operates without restriction and enjoys widespread adoption among Canadian market participants.
Australia — Grey zone
Australia's Interactive Gambling Act concentrates enforcement on service providers rather than individual users. Australians can participate in Polymarket with comparatively low legal exposure, though the regulatory environment remains somewhat ambiguous.
⚠️ 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 gains must be reported to tax authorities. British traders may face Capital Gains Tax on their returns. German participants owe income tax on profits. Maintain comprehensive records documenting all transactions.
PolyGram offers a downloadable transaction history feature to streamline your tax compliance. Start trading on PolyGram →