Polymarket Plans to Require Traders to Undergo KYC Identity Verification Amid Rising Sanctions and Legal Risks

Odaily Odaily News The prediction market Polymarket is facing escalating pressure from regulatory and sanctions compliance requirements. 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 still engage in market trading through automated trading bots and other methods, creating gray usage pathways in areas like Russia. Some developers are even utilizing tools such as Telegram to organize trading traffic and expand their user base. As the platform grows in scale and regulatory scrutiny intensifies, Polymarket is being forced to seek a balance between a decentralized prediction market and compliance requirements to address potential sanctions and legal risks. (The Information)