Polymarket Is Facing Calls for More Regulation. It's Introducing Sportsbook-Style Safeguards

Gaming attorney Joshua Kirschner was quoted in a CNN article about Polymarket's new safety measures introducing anti-gambling and financial responsibility mechanisms. The prediction market platform will now allow users to create deposit limits to slow down spending as well as place themselves on an "exclusion list" to restrict trading activity, in addition to offering access to mental health resources to combat gambling addiction. These "responsible trading" tools resemble those used by sportsbooks but are not required for Polymarket as a prediction site classified as a federally regulated financial market and overseen by the Commodity Futures Trading Commission (CFTC). Nevertheless, as Joshua pointed out, as the company faces a lawsuit in New York trying to shut down its operations and bring it under state gambling regulatory purview – for which "there is no analogue" in current federal law – the move could represent an attempt to appease investigators and state attorneys general.

"These protections are good for consumers, but maybe it's also a nod to try to pacify state regulators," he remarked.

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