Polymarket says no mandatory ID checks for core platform

The prediction market platform Polymarket has clarified that it will not implement mandatory identity verification for its main service, following reports that it was considering such measures amid growing regulatory scrutiny. The company's vice president of engineering, Josh Stevens, stated that a Know Your Customer requirement would apply only to a limited beta test for a new product and would not be required to use the existing Polymarket.com platform after the beta period concludes. He emphasized that broader identity checks for the core marketplace are not under consideration.

This clarification comes as prediction markets face increased regulatory pressure globally. Polymarket currently restricts access in dozens of jurisdictions, with some regions blocking users from placing new orders and others limiting them to closing existing positions. In recent months, authorities in Brazil moved to block 27 prediction market platforms, including Polymarket and rival Kalshi, citing operations outside the country's legal framework. Spain's gambling regulator also blocked local access to both platforms as a precautionary measure while pursuing legal proceedings over alleged...