Polymarket moves toward broader trader KYC amid sanctions and legal risk
Polymarket is moving toward more trader identification as it faces growing sanctions and legal risk, crypto.news reported. The platform already screens wallets against OFAC lists, and high-volume accounts trigger enhanced verification. Source: crypto.news
Polymarket is moving closer to requiring more traders to verify their identities, as the prediction market faces growing pressure over sanctions compliance, restricted-jurisdiction access and broader legal risk, crypto.news reported. According to the report, the platform already runs wallet addresses against OFAC sanctions lists via chain analytics, and sanctioned addresses are blocked. Users whose wallets have previously interacted with Tornado Cash or other sanctioned protocols can see their accounts restricted with little recourse short of submitting full KYC. Enhanced verification can also be triggered for high-volume traders. crypto.news cited accounts running seven-figure positions or rapid five-figure deposit, trade and withdraw cycles as common triggers under platform-internal AML thresholds. In March, Polymarket published stricter market-integrity rules, saying sanctions for violators can include suspension, termination, monetary penalties or referral to regulators and law enforcement. Source: crypto.news