Polymarket tightens KYC and VPN rules, denies mandatory shift

Polymarket faces regulatory pressure, tightening KYC and VPN rules. The platform denies mandatory KYC for its main service, limiting it to a beta group for its new Perps product.

Polymarket is under growing regulatory and legal scrutiny, leading the platform to consider stricter Know Your Customer (KYC) measures and tighter enforcement against VPN usage. Although Polymarket already geoblocks many countries to comply with sanctions and anti-money laundering rules, some users in restricted regions have managed to bypass these blocks. In response, Polymarket is encouraging more traders to verify their identities and is cracking down on suspicious accounts, particularly those involved in large or rapid transactions. Despite these efforts, the platform denies that mandatory KYC will be introduced for its main platform. Polymarket clarified that identity checks are currently limited to a beta group for its new Perps product, which will not require KYC after the beta phase. Wallet-based access remains central, but permissionless trading is no longer guaranteed for all users as compliance measures increase.