Polymarket banned in Australia, ACMA places platform on close-only status
Australia's media regulator ACMA has placed Polymarket on close-only status, preventing Australian users from opening new trades while allowing existing positions to be closed. The action comes as Australians have reportedly used the platform to wager on geopolitical conflicts. The body does not state when the close-only order took effect beyond an August 2025 reference, nor does it detail specific enforcement mechanisms or penalties.
Shows a major Commonwealth regulator treating Polymarket as an illegal betting operator rather than a CFTC-regulated exchange, creating a template other jurisdictions may follow and complicating any future Polymarket expansion into Asia-Pacific markets.
Joins Ohio, Tennessee, and Illinois as the fourth separate jurisdiction this month to move event-contract platforms toward state-gambling treatment or geofenced operation, after the Sixth Circuit stripped Kalshi's preemption shield and the NFL backed New Jersey's Supreme Court bid.