Prediction market access by country and state.

Yes. Polymarket US operates as a CFTC-regulated exchange (QCX LLC), separate from the global crypto platform, which still blocks US users. It returned to US residents in 2025 after settling with the CFTC and leaving the market in 2022. Some states are challenging event contracts in court; check the state matrix above for current availability.

Yes, federally. Kalshi is a CFTC-designated exchange available in all 50 states. More than 19 states have filed challenges arguing its sports contracts are unlicensed gambling, and courts have largely let Kalshi keep operating while those cases play out. The state matrix above shows where sports contracts are restricted.

Yes, in most states. Prediction markets are regulated by the CFTC as financial derivatives, not gambling. Several states have filed legal challenges or issued cease-and-desist orders arguing otherwise, and some platforms restrict sports contracts in certain states while courts resolve the disputes. Check the matrix above for current platform availability in your state.

That was the situation from 2022 to 2024: Kalshi registered with the CFTC from the start, while Polymarket settled with the CFTC in 2022 and blocked US users. The distinction is gone. Polymarket came back in 2025 as a CFTC-regulated exchange, and both platforms now operate legally for US residents.

States with existing sportsbook licensing (like New Jersey, Nevada, and Maryland) argue that sports prediction contracts compete with their regulated sportsbooks. These states have been the most aggressive in challenging platforms.

Existing positions would likely need to be wound down, but funds would be returned. No state has forced immediate forfeiture from existing users. The CFTC has asserted it would intervene to protect registered users.

It depends on the country. In the US, the CFTC regulates event contracts as financial derivatives, not gambling. Regulators in Australia, New Zealand, the UK and much of Europe classify the same products as gambling. The product works the same way; the legal wrapper differs by jurisdiction.

In the US, the IRS treats prediction market gains as taxable income, and platforms issue 1099 forms for US users. Tax treatment varies in other countries; in the UK, gambling winnings are generally untaxed for individuals. Consult a tax professional for your situation.

Polymarket is accessible in most of the world but fully regulated in few places. Its own restricted list includes the UK, France, Belgium, Netherlands, Italy, Germany, Japan and Australia, and regulators or courts have ordered ISP blocks in Spain, Bulgaria, Argentina, Colombia, Brazil, India and Indonesia. Elsewhere it is generally accessible but unregulated. US residents use the separate CFTC-regulated Polymarket US. Click any country on the map above for its current status.

No. The FCA bans binary options for retail investors, the UK is on both platforms' restricted lists, and the Gambling Commission says real-money prediction markets need a UK licence. UK users should look at Betfair Exchange, Smarkets, or Matchbook Predictions for equivalent functionality under regulated gambling licenses.

ACMA classifies prediction markets as gambling under the Interactive Gambling Act 2001 (the ruling became public in early 2026), and ISP blocks have been in place since August 2025. The ruling explicitly rejected the financial-instrument argument that US platforms rely on. New Zealand's Department of Internal Affairs took the same position in February 2026.

Limited. Polymarket is banned in Ontario (OSC settlement, April 2025) and other provinces are a grey area; binary options under 30 days are banned nationally. The one regulated route is ForecastEx event contracts through Interactive Brokers Canada, available since April 2025.

No. Brazil declared prediction markets illegal in April 2026; CMN Resolution 5,298 bans event derivatives on sports, politics and entertainment, and Anatel blocked 28 platforms including Polymarket and Kalshi. The only legal route is B3's CVM-approved contracts for professional investors with R$10 million or more in assets.

Polymarket is accessible in the most countries, though its reach shrank in 2025 and 2026 as European and Latin American regulators ordered blocks. Kalshi also narrowed, adding China, Ireland, New Zealand and the UAE to its restricted list in 2026. Accessible does not mean legal: use the map above to check any country.

Technically possible, but it violates platform Terms of Service and risks fund forfeiture, and some jurisdictions criminalize accessing blocked gambling sites. Not recommended.