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Prediction Markets101

Is Polymarket legal in Australia?

Regulatory status of Polymarket and Kalshi in Australia, including local gambling law, crypto regulation, tax treatment, and available alternatives.

Prediction Markets 101 editorial team Updated April 16, 2026

Short answer: Polymarket is grey zone in Australia as of April 2026. Polymarket does not require KYC at signup — crypto deposits work worldwide. Kalshi is US-only, not available here regardless of local law.

Access status

Polymarket access: Accessible but in a legal grey zone. ASIC has not explicitly ruled on crypto prediction markets, but similar derivatives historically required AFS licensing.

Kalshi access: US-only.

Local law

Interactive Gambling Act 2001 prohibits unlicensed real-money online gambling. Corporations Act captures derivative products. ASIC issued a 2021 warning about unlicensed crypto derivatives.

VPN usage: Common among residents accessing geoblocked platforms. Polymarket does not require KYC at signup; crypto deposits work without fiat rails.

Locally-available alternatives

  • Betfair Australia (licensed betting exchange)
  • Sportsbet

Tax treatment

Crypto gains: capital gains tax applies, 50% discount if held > 12 months. ATO tracks via exchange data.

Local currency: AUD. Tax details are general guidance, not a substitute for a qualified local tax professional.

Accessing Polymarket from Australia

The regulatory environment for prediction markets in Australia is unclear. Polymarket is generally accessible; Polymarket itself does not require KYC at signup, and crypto deposits work without fiat rails.

FAQ

Do I need KYC for Polymarket in Australia?

No KYC is required to sign up or trade on Polymarket. Identity verification triggers only at fiat offramps above ~$10k via MoonPay or Onramper. Deposits and most trading are self-custodial via a Polygon wallet.

What is the tax treatment for Polymarket gains in Australia?

Crypto gains: capital gains tax applies, 50% discount if held > 12 months. ATO tracks via exchange data.

Can I use a VPN to access Polymarket from Australia?

Technically yes — and it's the typical path where local access is restricted. A non-US IP (or non-restricted-country IP) plus crypto deposits gets you a functional account. Polymarket does not require KYC at signup. At large fiat offramps, a mismatched ID can result in account restriction; users who keep withdrawals to self-custody crypto avoid this. Polymarket's terms of service address VPN use — review them for your own risk tolerance.

Other countries in Oceania

Last verified

This page was last verified on April 16, 2026. Law and platform policies can change — we review each country page at least quarterly.

Nothing here is legal advice. For a decision with real money on the line, consult a local lawyer familiar with derivatives or gambling law.