Polymarket Considers KYC, Geoblock Users from 35 Countries This Week Amid Sanctions Pressure

According to The Information, Polymarket is considering implementing Know Your Customer (KYC) identity verification measures as regulators worldwide pressure the platform over sanctions compliance. This week, the prediction market platform geoblocked users from 35 countries, including Iran, Russia, and North Korea, to limit regulatory exposure.

The restrictions follow concerns about insider trading on geopolitical events. A U.S. soldier reportedly used classified information to place a successful bet on Venezuelan President Nicolás Maduro's capture, generating approximately $400,000 in profits. President Donald Trump recently voiced support for the Commodity Futures Trading Commission (CFTC) maintaining federal oversight of prediction markets rather than allowing state-level regulation.