The predictions market operator reportedly explored mandatory user verification requirements, breaking from its policies of allowing traders to access its services using pseudonyms.
[Clarification (May 28 at 2:15 pm UTC): Polymarket’s vice president of engineering said the claims in the report were “false,” adding that the KYC requirements applied to a “new beta product” for a “select group of users.”]
Prediction markets platform Polymarket is reportedly considering measures to verify users in response to pressure from global authorities over sanctions violations and other areas of legal risk to the company.
According to a Wednesday report by The Information, Polymarket has considered mandatory user verification requirements more in line with Know Your Customer (KYC) standards. The move comes as multiple countries have blocked or restricted access to the predictions market platform over concerns about illegal gambling.
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