Josh Stevens, Vice President of Software Development at Polymarket, has dismissed rumors regarding the mandatory implementation of Know Your Customer (KYC) verification for all users.
False.
We are launching a new beta product and allowing a select group of users to try it out, with KYC required only during this beta period. No KYC is being added to any part of existing https://t.co/GeeC4Y8nYc with this launch. Once this product is out of beta no KYC will be…
— Josh (@devjoshstevens) May 27, 2026
According to him, identity verification will only be required for participants in the closed beta testing of the new product. This requirement does not apply to the main platform. KYC will also be eliminated after the full release of the new service.
Stevens emphasized that the company does not intend to abandon its anonymous trading model.
Previously, The Information reported that Polymarket is considering implementing KYC due to regulatory pressure. The platform is blocked in several countries:
- The Brazilian authorities have restricted the operation of 27 prediction markets, including Polymarket;
- The Spanish regulator has blocked access to the service as a "precautionary measure";
- The Indonesian Ministry of Communication and Information Technology has equated Polymarket to an online casino.
Despite these legal challenges, the platform continues to expand. The company is negotiating with the CFTC for a legal relaunch in the U.S. market and plans to obtain official licenses to operate in Japan.
It is worth noting that on May 22, Polymarket confirmed the compromise of a private key, with on-chain analysts estimating the damage at around $700,000.