- Polymarket‘s engineering VP clarifies KYC is only for a new beta product’s early test period.
- The requirement is not being added to its existing main platform, and no KYC is planned for the product post-beta.
- This clarification comes as the prediction market faces increased regulatory pressure and access restrictions in several countries.
Engineering Vice President Josh Stevens stated that Polymarket is not adding mandatory Know Your Customer checks to its existing service, countering a report about potential user verification requirements. He said KYC is only needed for early access to a new beta product. Stevens later addressed concerns by confirming KYC would not be added later, highlighting its limited scope.
Consequently, pseudonymous trading on the main Polymarket platform remains unchanged. However, the company faces growing regulatory scrutiny as access restrictions widen globally.
As of Thursday, Polymarket listed dozens of restricted jurisdictions. Brazil moved to block 27 prediction markets in April, including Polymarket.
Meanwhile, Spain‘s gambling regulator also blocked local users from the platform in May. Despite these challenges, Polymarket continues to seek expansion in major markets.
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