Is Polymarket legal in South Africa?
Yes. Polymarket is accessible from South Africa. The country is not on Polymarket's blocked countries list.
How South African regulations apply
The Financial Sector Conduct Authority (FSCA) declared crypto assets as financial products in 2022, bringing them under regulatory oversight. Crypto exchanges must now be licensed. However, prediction markets are not specifically regulated.
Online gambling is regulated under the National Gambling Act, but enforcement against offshore platforms is limited. Prediction markets exist in a gray area, as they are not classified as traditional gambling.
How to get started from South Africa
- Go to Polymarket and create your account
- Deposit via credit card or transfer USDC from a South African exchange like Luno or VALR
- Start trading
Read our guide to Polymarket for a complete platform overview.
Tax implications
Crypto gains in South Africa are subject to capital gains tax (CGT). The annual exclusion is R40,000, and 40% of gains above that are included in taxable income (for individuals). Keep records of all trades.
