Before you jump into the world of prediction markets, there’s a critical question you need to answer: “Can I even use this where I live?” The regulatory landscape for platforms like Polymarket is a patchwork of different rules, and the answer depends heavily on your location.
Let’s get the big one out of the way first: the United States. Currently, Polymarket is not legally accessible to users in the US. The Commodity Futures Trading Commission (CFTC), the primary regulator for this type of market, has not approved the platform for operation within the country. As a result, Polymarket uses “geoblocking” to prevent US-based users from accessing its services.
This is why you’ll often see discussions online about its legality—it’s a major point of contention and a key barrier for a huge potential user base.
Now for the good news. For users in many other parts of the world, including Canada and most of Europe, Polymarket is generally accessible. These regions have different regulatory frameworks for cryptocurrencies and financial markets, which has allowed the platform to operate. This is why a specific guide on how to use Polymarket in Canada is so useful—it’s one of the key English-speaking markets where the platform is available.
The legality question is central to understanding what is Polymarket and its mission. The platform’s use of decentralized technology is, in part, a response to these regulatory hurdles. By building on the blockchain and allowing users to self-custody their funds, it operates in a different paradigm than traditional, centralized betting companies.
However, the legal situation is constantly evolving. Polymarket has been actively working towards regulatory compliance, with the goal of one day operating legally in the United States. But for now, the map is clear: if you’re in the US, you’re on the sidelines. If you’re in Canada or many other countries, the market is open for business. Always make sure to check the current rules for your specific jurisdiction before you start trading.