Polymarket is not legal for Swiss residents under current Swiss gambling law. In November 2024, Switzerland’s Gambling Supervisory Authority (GESPA) added Polymarket to its official list of blocked domains, classifying the platform as an unlicensed online money game in violation of the Federal Act on Money Games (MGA).
That does not mean Swiss residents are unable to access the platform technically, but it does mean using it operates outside the bounds of Swiss law. This guide breaks down exactly what that means, why it happened, and what the risks are for users in Switzerland.
If you are new to the platform entirely, read our overview of what Polymarket is before diving into the legal details.
- GESPA officially blocklisted Polymarket in November 2024 under the Federal Act on Money Games
- Swiss internet service providers are required to implement DNS blocking on polymarket.com
- Polymarket holds no Swiss license and cannot legally apply for one under current law
- Using Polymarket via a VPN technically bypasses the block but does not make it legal
- FINMA has issued new crypto custody guidance in January 2026 but has not addressed prediction markets directly
Why Switzerland Blocked Polymarket?
Switzerland enacted the Federal Act on Money Games (MGA), which came into force on 1 January 2019. The MGA applies to all online real-money games, including variations of betting and skill games, and requires any operator serving Swiss users to hold a valid Swiss license.
Under this framework, only Swisslos and Loterie Romande are permitted to offer online betting and lotteries, and foreign operators are explicitly excluded from applying for a license.
GESPA, the federal authority responsible for supervising non-casino money games in Switzerland, monitors the web for unlicensed offerings. In November 2024, it determined that Polymarket’s event contracts constituted an unlicensed online money game and added the domain to its official blocklist maintained by the Swiss Federal Gaming Board (ESBK). Swiss ISPs are then legally required to implement DNS-level blocking on those domains.
How the Federal Act on Money Games Applies to Polymarket
The MGA defines a money game as any game in which a monetary stake is made and a monetary prize is offered, where the outcome depends wholly or partly on chance.
Swiss regulators determined that Polymarket’s binary event contracts, where users stake USDC on real-world outcomes, meet this definition.
The fact that Polymarket frames its products as financial prediction markets rather than gambling did not change GESPA’s classification.
Switzerland’s Gambling Regulatory Framework
Switzerland operates a tightly controlled online gambling regime overseen by two main federal bodies. Understanding their roles clarifies why Polymarket has no clear path to legal operation in the Swiss market under current rules.
- ESBK (Swiss Federal Gaming Board): Supervises casinos and online casino extensions. Licensed land-based casinos may apply to extend their license to online gaming.
- GESPA (Gambling Supervisory Authority): Oversees lotteries, betting, and non-casino money games. Exclusively licenses Swisslos and Loterie Romande for online betting.
- FINMA (Swiss Financial Market Supervisory Authority): Regulates financial services and crypto assets but has not issued specific guidance on prediction markets.
The key structural problem for Polymarket is that foreign operators cannot apply for a Swiss gambling license under the MGA. This is not a matter of Polymarket choosing not to apply, the law structurally excludes non-Swiss entities from the online betting licensing process entirely, as confirmed by legal experts on Switzerland’s gambling laws and regulations.
FINMA and Crypto Regulation
Switzerland is globally recognized as a crypto-friendly jurisdiction, home to the so-called “Crypto Valley” in Zug. FINMA has been progressively building a regulatory framework for crypto assets, including publishing FINMA Guidance 01/2026 in January 2026 on the custody of crypto-based assets.
However, this guidance addresses custody risk management for supervised institutions and does not reclassify prediction market platforms.
The Swiss Federal Council also launched a public consultation in late 2025 on proposed amendments to the Financial Institutions Act (FinIA), introducing new FINMA-supervised license categories for crypto institutions.
These proposals are expected to take effect in late 2026 or early 2027 but are focused on exchanges and asset custodians, not prediction market platforms.
Could Future Regulation Legalize Polymarket in Switzerland?
It is possible but unlikely in the near term. Any legalization of prediction markets in Switzerland would require either a specific exemption under the MGA or a reclassification of event contracts as financial instruments rather than money games, which would bring them under FINMA rather than GESPA jurisdiction. Neither change is currently under active legislative consideration.
What Are the Risks for Swiss Users Who Access Polymarket?
Swiss law does not impose criminal penalties on individual users for accessing unlicensed gambling sites, the MGA primarily targets operators, not consumers. However, the risks for Swiss users are still meaningful and go beyond legal exposure alone.
- No legal recourse: Any dispute with Polymarket cannot be escalated to a Swiss regulator or court under Swiss consumer protection law.
- Fund security: Understand whether Polymarket can freeze your funds before depositing, there is no Swiss authority to intervene if an issue arises.
- Tax ambiguity: Gains from an unlicensed platform may be treated differently by cantonal tax authorities compared to licensed financial products.
- VPN terms of service: Bypassing DNS blocks via a VPN violates Polymarket’s terms of service and could result in account suspension.
- Regulatory tightening: As Switzerland finalises its new crypto framework in 2026 and 2027, prediction markets could face additional scrutiny
How Polymarket Compares to Legal Alternatives in Switzerland?
Swiss residents looking for legal prediction or speculative trading options have limited alternatives in the same format. Swisslos and Loterie Romande offer licensed sports betting, but their markets are far narrower than Polymarket’s event contract range.
Regulated financial products like CFDs or options on political outcomes are available through licensed Swiss brokers but operate under an entirely different framework.
If you are evaluating whether Polymarket is the right platform for your trading goals, our breakdown of Polymarket vs Kalshi vs PredictIt covers how the platforms compare on market availability, fees, and regulatory standing internationally.
If You Still Choose to Use Polymarket in Switzerland
If you decide to proceed despite the legal landscape, the practical steps for accessing the platform are covered in our full guide on how to use Polymarket in Switzerland.
Before depositing any meaningful amount, review the trading fees and withdrawal options and complete the KYC verification process to avoid withdrawal restrictions.
A structured Polymarket trading strategy will also help you approach markets with discipline rather than speculation.
Frequently Asked Questions
Is Polymarket banned in Switzerland?
Yes. GESPA, Switzerland’s Gambling Supervisory Authority, officially added Polymarket to its blocklist in November 2024 under the Federal Act on Money Games. Swiss internet service providers are required to implement DNS blocking on polymarket.com, making it an unlicensed and legally non-compliant platform for Swiss users.
Can Swiss residents access Polymarket with a VPN?
Technically yes, but it does not make usage legal. DNS blocking can be bypassed with a VPN, but doing so violates both Swiss gambling regulations and Polymarket’s own terms of service. Users who circumvent the block do so at their own risk with no regulatory protection.
Why can’t Polymarket just get a Swiss license?
Under Switzerland’s Federal Act on Money Games, online betting licenses are exclusively granted to Swisslos and Loterie Romande. Foreign operators are structurally excluded from applying, which means Polymarket has no legal pathway to obtain Swiss licensing under the current regulatory framework.
Will Switzerland ever legalize Polymarket?
There is no active legislative proposal to legalize foreign prediction market platforms in Switzerland as of 2026. Future changes would require either an MGA amendment or a reclassification of event contracts as financial instruments under FINMA’s jurisdiction, neither of which is currently under formal consideration.
