Polymarket’s vice president of engineering, Josh Stevens, clarified that the prediction market platform is not adding mandatory Know Your Customer (KYC) checks to its existing service, after a report said the company had considered user verification requirements.
Stevens
Polymarket restrictions grow amid regulatory scrutiny
Polymarket’s clarification comes as the platform faces widening access restrictions across several jurisdictions.
As of Thursday, Polymarket listed dozens of restricted jurisdictions, including countries where users are blocked from placing orders and others where access is limited to closing existing positions.
Related: Monthly prediction market volume hits $25.7B as user activity shifts beyond one-off events
In April, Brazil moved to block 27 prediction market platforms, including Polymarket and Kalshi, after authorities said the services operated outside the country’s legal framework.
In May, Spain’s gambling regulator also blocked local users from Polymarket and Kalshi as a “precautionary measure” while authorities pursued legal proceedings over alleged unlicensed gambling activity.
Despite the restrictions, Polymarket has continued to pursue expansion in major markets. In April, the company was reportedly in talks with the US Commodity Futures Trading Commission over a broader US relaunch, and in May, it was reportedly seeking entry into Japan despite the country’s strict gambling laws.
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