Polymarket Introduces User Protection and Anti-Addiction Measures

On September 30, Polymarket launched a series of user protection and anti-addiction measures amid rising calls for regulation in the prediction market. Users can set non-reversible deposit limits to control spending and potential losses, and can join a temporary or permanent "self-exclusion list" to suspend their use of the platform. Polymarket has also partnered with the online gambling addiction treatment organization Birches Health to provide mental health resources for users exhibiting "compulsive financial trading behavior." Polymarket's Global Safety Officer Malea Otranto stated that the company will track the usage of these tools and may make adjustments based on their effectiveness. The prediction market is classified in the U.S. as a financial market regulated by the CFTC, and does not have to follow consumer protection rules established for sports betting platforms in various states. According to TickerTracker data, sports markets and parlay transactions accounted for over 98% of Polymarket's trading volume on its U.S. platform this month. New York State has sued Polymarket seeking to shut down its operations; Polymarket denies any wrongdoing and has filed a counterclaim in federal court.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.