The largest prediction market tightens identity rules to curb illicit trading and comply with global financial regulations.
Polymarket, the world’s largest prediction market, is requiring all traders to complete identity verification (KYC) to mitigate regulatory, sanctions, and legal risks. The move follows reports of users bypassing restrictions via automated trading bots, including activity linked to Russia and other gray-market operations.
The platform has faced scrutiny over compliance gaps, with some developers allegedly routing trades through third-party tools like Telegram. Prior attempts to enforce restrictions have had limited success, prompting the shift to mandatory KYC.
No immediate market reaction was reported, but the change may reduce anonymity-driven trading volumes and improve regulatory alignment.