Josh Stevens, Vice President of Polymarket for Development, explained that the platform is not introducing mandatory KYC for the existing service. His comment came after reports that Polymarket might start verifying the identities of all users.
According to Stevens, this is not about the main platform, but about a new product in closed beta. Access is currently given only to a small group of users, so identity verification is requested during the test phase.
“With this launch, KYC is not being added to any part of the current Polymarket.com,” he wrote on X.
According to Stevens, after leaving beta, the new product will remain available without mandatory verification.
Later, one user directly asked whether Polymarket plans to introduce KYC for everyone. Stevens replied that there are no such changes planned.
He also separately noted that identity verification only applies to participants in the new test product. The main platform will continue to operate under the previous model without mandatory user identification.
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The clarification was prompted by a publication from The Information. The article claimed that Polymarket is exploring options to strengthen user controls amid growing regulatory attention.
At the time of publication, Polymarket had not provided any additional comments on this topic.
Tightening Restrictions for Polymarket Amid Regulatory Pressure
The clarification came at a time when Polymarket is already facing increasing restrictions in various countries.
The platform’s website already lists a long list of jurisdictions where access to the service is restricted. In some places, users cannot open new positions, while in others, they are only allowed to close existing trades.
In April, Brazil joined these restrictions. Local authorities demanded the blocking of 27 prediction market platforms, including Polymarket and Kalshi. Regulators stated that such services operate outside the local legal framework.
In May, a similar situation occurred in Spain. The local gambling regulator blocked access to Polymarket and Kalshi for users in the country. Officially, this was called a temporary measure while investigations into possible unlicensed operations are ongoing.
At the same time, Polymarket is not abandoning its expansion plans. In the spring, according to media reports, the company discussed with the CFTC the possibility of returning to the US market in a broader format.
In May, there were also reports that Polymarket is exploring entry into Japan. This is a challenging direction: local rules on betting and similar services are considered some of the strictest among major markets.
