Enhanced User Protection: Polymarket Introduces Deposit Limits and Self-Exclusion Features

Odaily News: Polymarket has introduced deposit limits, self-exclusion lists, and anti-addiction support measures. Users can set deposit limits that cannot be immediately revoked, or add themselves to a temporary or permanent self-exclusion list to suspend their use of the platform.

Polymarket has also partnered with Birches Health, an online gambling addiction treatment organization, to provide mental health resources for users exhibiting compulsive financial trading behavior. Its Global Head of Safety, Malea Otranto, stated that the company will track usage of these tools and may adjust them based on their actual effectiveness.

Prediction markets are classified in the United States as CFTC-regulated financial markets and are not required to follow the consumer protection rules that states have established for sports betting platforms. According to TickerTracker data, sports markets and parlay trading accounted for more than 98% of trading volume on Polymarket's U.S. platform this month. The state of New York has sued Polymarket, seeking to shut down its operations; Polymarket denies any wrongdoing and has filed a countersuit in federal court.