In this guide
Key takeaway: Polymarket operates legally across most territories, though it occupies uncertain regulatory space in numerous regions. Residents of the United States cannot access the platform. Review applicable gambling and financial regulations in your jurisdiction before trading.
Is Polymarket legal? The response varies based on your location. Polymarket functions as a decentralised protocol built on blockchain infrastructure, meaning it lacks a single regulatory authority — yet national and local laws still bind individual users.
United States — Blocked
US residents and citizens cannot use Polymarket. Following a $1.4 million settlement with the CFTC in 2022 over the provision of unregistered event derivatives, Polymarket ceased US operations and implements geoblocking for American internet addresses. Circumventing this restriction through VPN technology breaches the platform'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 service remains openly available to British users, though they operate without statutory consumer safeguards. Revenue generated must be reported in accordance with HMRC tax rules.
Germany — Grey zone
Under the Glücksspielstaatsvertrag (GlüStV 2021), Germany maintains an extensive gambling regulatory framework. Prediction markets occupy an indeterminate position within this regime — neither formally approved nor explicitly prohibited. German participants can access Polymarket without impediment, though potential legal exposure persists. Consult our comprehensive German regulatory analysis for additional context.
Canada — Accessible
No nationwide Canadian legislation prohibits consumer participation in prediction markets. Although provincial gambling rules differ across jurisdictions, Polymarket remains widely accessible and actively utilised by Canadian market participants.
Australia — Grey zone
Australia's Interactive Gambling Act concentrates enforcement on platform operators rather than individual users. Australians can engage with Polymarket with relatively modest legal exposure, though the regulatory landscape remains somewhat opaque.
⚠️ 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 United Kingdom typically imposes Capital Gains Tax on such profits. German tax law classifies these earnings as taxable income. Maintain comprehensive documentation of all transactions for compliance purposes.
PolyGram supplies transaction export functionality to streamline your tax filing obligations. Start trading on PolyGram →