Polymarket Introduces "Sports Betting-Style" Addiction Prevention Measures in Response to Regulatory Pressure Gold Finance reports that on September 30, according to CNN, the prediction platform Polymarket has launched new consumer protection and addiction prevention measures in response to regulatory calls. These measures include: users can set non-immediately-reversible deposit limits; users can self-exclude from the platform either temporarily or permanently; and Polymarket is partnering with addiction treatment company Birches Health to provide mental health resources to users exhibiting "compulsive trading behavior." The report notes that prediction markets involve real money and resemble gambling, but are legally regulated by the CFTC and are not required to comply with state-level protections applicable to casinos and sports betting; this month, over 98% of the platform’s U.S. trading volume came from sports. Currently, 44 states argue that these platforms should be regulated as gambling; last week, New York State filed a lawsuit seeking to shut down the platform, and Polymarket has since filed a counterclaim.
Polymarket Introduces Anti-Addiction Measures Amid Regulatory Pressure
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Summary
Polymarket has implemented anti-addiction and AML measures in response to regulatory pressure. The platform now enforces non-revocable deposit limits, a self-exclusion feature, and a mental health partnership with Birches Health. Over 98% of U.S. trading volume this month came from sports bets. Forty-four states are pushing to classify it as gambling, with New York filing a lawsuit to shut it down. Polymarket has filed a countersuit.
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