Is Polymarket legal in Germany?
No. Polymarket is blocked in Germany. The country is on Polymarket's list of 33 restricted countries. German users cannot trade on the platform.
Although Polymarket is blocked in Germany, many German users bypass this restriction by using a VPN. A VPN changes your apparent location, making it look like you're connecting from a country where Polymarket is available. This violates Polymarket's Terms of Service, but it remains a widely used method. Accounts could be restricted if detected.
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Why is Polymarket blocked in Germany?
Germany has strict regulations on both gambling and financial derivatives. The Federal Financial Supervisory Authority (BaFin) regulates financial products, and online gambling is governed by the Interstate Treaty on Gambling (GlüStV).
Prediction market contracts could be classified as either unlicensed gambling or unregistered financial derivatives under German law. In either case, Polymarket lacks the necessary authorization to operate in Germany.
How German regulations apply
The GlüStV, updated in 2021, created a licensing framework for online gambling in Germany. Only platforms with a German gambling license can legally offer betting services. Separately, BaFin banned the sale of binary options to retail investors in 2019, and prediction market contracts share structural similarities with binary options.
Crypto is legal in Germany. BaFin classifies crypto assets as financial instruments, and Germany has one of the most developed crypto regulatory frameworks in Europe.
Alternatives for German users
German residents can access Kalshi through its CFTC-regulated platform if they meet eligibility requirements. Some EU-licensed betting exchanges may offer limited event-based markets.
Curious about how prediction markets work? Read our guide.
