Svmuu reported that Polymarket's Vice President of Engineering, Josh Stevens, clarified in a post on X that the prediction market platform will not introduce mandatory Know Your Customer (KYC) checks on its existing services. Stevens stated that KYC is only applicable to the early testing of a new Beta product for some users, and none of the existing products will require KYC as a result. The product will not require KYC after it exits Beta testing either.

Polymarket currently faces access restrictions in several jurisdictions, including bans on users placing orders or only allowing position closures. In April, Brazil blocked 27 prediction market platforms, including Polymarket and Kalshi, while Spain's gambling regulator also restricted local users' access to Polymarket and Kalshi in May. (Cointelegraph)