Polymarket to Require Trader KYC Verification Amid Rising Sanctions and Legal Risk Pressures

Odaily News The prediction market Polymarket is facing increasing regulatory and sanctions compliance pressures. 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 related activities in some regions, users have still been participating in market trading through automated trading bots, creating gray usage pathways in areas like Russia. Some developers have even utilized tools such as 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 decentralized prediction markets and compliance requirements to address potential sanctions and legal risks. (The Information)