Ukrainian authorities have started restricting access to the prediction platform Polymarket, and legal experts outlined reasons and remaining user risks.

Regulatory rationale and classification

According to lawyers, the platform was classified as an unlicensed gambling service and added to blocked resources by decision of NKEK.

Authorities treat prediction markets as betting rather than financial instruments, which changes applicable regulation and enforcement practices.

Compliance gaps identified by counsel

• No Ukrainian license for gambling operations has been registered for the platform.
• No local tax reporting has been disclosed, raising issues for fiscal monitoring and liability.
• No KYC (know-your-customer) procedures were implemented by the service for Ukrainian users.
• Separate concern involves markets offering bets on events connected to the war in Ukraine, which increases regulatory scrutiny.

Access, enforcement and timing

Blocking is being implemented gradually across internet service providers, so availability now varies by operator and region in Ukraine.

Lawyers say a complete nationwide ban is a matter of timing, and users should expect further restrictions depending on regulator actions.

Risks for users and promoters

Counsel warn that using an unlicensed platform removes many legal protections if disputes arise over payouts, account breaches, or fund withdrawals.

Individuals who advertise or promote the service locally may face more serious legal consequences than ordinary users, according to the assessment.

VPN usage and legal protection

While virtual private networks are not prohibited per se, accessing a service deemed illegal in Ukraine leaves users without effective legal remedies domestically.

In case of withheld funds, account compromise, or other issues, users operating through VPNs should expect limited recourse under Ukrainian law.

International restrictions

Polymarket has been restricted or limited in the United States, France, Poland, Singapore and several other jurisdictions, the lawyers noted.

Given cross-border enforcement trends, Ukrainian practitioners recommend against using the platform and advise caution for anyone involved in its promotion.