Is Polymarket legal in Chile?
Yes. Polymarket is accessible from Chile. The country is not on Polymarket's list of blocked countries.
How Chilean regulations apply
Chile passed its FinTech Law in 2023, creating a regulatory framework for financial technology platforms. The CMF (Comisión para el Mercado Financiero) oversees financial services including crypto.
Online gambling is regulated by the Superintendencia de Casinos de Juego, but prediction markets are not specifically classified under Chilean gambling law. Crypto is legal and regulated.
How to get started from Chile
- Visit Polymarket and sign up
- Deposit via credit card or buy USDC on Buda.com and transfer
- Start trading
New to this? Read our beginner guide.
Tax implications for Chilean users
Crypto gains in Chile are classified as taxable income by the Servicio de Impuestos Internos (SII). Profits from selling or trading crypto assets are subject to the global complementary tax, with rates ranging from 0% to 40% depending on your total annual income.
Chile's 2023 FinTech Law brought greater clarity to crypto taxation. Under the current framework, you must report crypto gains in your annual tax declaration. The SII has the authority to request information from local exchanges, and cross-border transactions are increasingly monitored.
If you use a Chilean exchange like Buda.com as an intermediary to buy USDC before transferring to Polymarket, those transactions are already visible to regulators. Keep records of every deposit, trade, and withdrawal. Consider working with a Chilean accountant (contador) who understands crypto tax obligations.
