Polymarket Plans to Require Traders to Complete KYC Identity Verification Amid Growing Sanctions and Legal Risks

Odaily Planet Daily News: Prediction market Polymarket is facing increased pressure from regulatory and sanctions compliance. It is reported that the platform is pushing traders to undergo identity verification (KYC) to mitigate potential legal and compliance risks.

Although Polymarket's betting platform rules do not permit such activities in certain regions, some users have still been participating in market trading through automated trading bots and other methods, forming gray usage pathways in areas such as Russia. Some developers have even utilized tools like Telegram to organize trading traffic and expand their user base. As the platform scales and regulatory scrutiny intensifies, Polymarket is being forced to seek a balance between the decentralized prediction market model and compliance requirements to address potential sanctions and legal risks. (The Information)