Polymarket is officially blocklisted in Switzerland under the Federal Act on Money Games, a VPN is required to access it, though this does not make usage legal. Switzerland has a progressive approach to both crypto regulation and financial innovation, which means the platform sits in a relatively comfortable position compared to many other European countries.
This guide walks you through every step of getting started on Polymarket as a Swiss resident, from setting up your wallet to placing your first trade.
If you are completely new to the platform, start with our guide on what Polymarket is before following the steps below.
- Polymarket is blocked in Switzerland.
- You need a crypto wallet funded with USDC on the Polygon network
- KYC verification is required to unlock full withdrawal functionality
- Switzerland does not tax capital gains for private individuals in most cantons, which is favorable for traders.
What You Need Before You Start?
Polymarket runs entirely on the Polygon blockchain and uses USDC as its sole trading currency. Before you visit the platform, make sure you have the following in place to avoid delays during onboarding.
- A crypto wallet: MetaMask (browser extension or mobile) or Coinbase Wallet are the most compatible options
- USDC on Polygon: The only accepted currency on Polymarket, do not send ETH or USDC on any other network
- A government-issued ID: Swiss passport, identity card, or residence permit for KYC
- A crypto exchange account: To purchase and withdraw USDC, Kraken, Binance, and Coinbase are all available in Switzerland
- A desktop browser or smartphone: Polymarket works on both; the mobile app offers a cleaner onboarding experience
How to Use Polymarket in Switzerland: Step by Step
Follow these steps in order. The most common mistake Swiss users make is sending USDC over the wrong network, which results in lost funds. Pay close attention to the network selection at each stage.
Step 1: Set Up MetaMask and Switch to Polygon
Download MetaMask as a Chrome or Firefox browser extension, or install the mobile app. Create a new wallet and store your 12-word seed phrase securely offline, never digitally. Once your wallet is created, open the network selector and switch from Ethereum Mainnet to Polygon. Polymarket only operates on Polygon, and funds sent on any other network will not appear in your account.
Step 2: Purchase USDC on a Swiss-Accessible Exchange
Log into your preferred exchange, Kraken and Coinbase are the most popular among Swiss users. Purchase USDC in the amount you want to deposit. When withdrawing from the exchange to your MetaMask wallet, always select Polygon (MATIC network) as the withdrawal chain. Double-check your MetaMask wallet address before confirming the transfer.
Step 3: Create Your Polymarket Account
Go to polymarket.com and click “Sign Up.” You can register with an email address or connect directly with your MetaMask wallet. Connecting your wallet directly is the faster method, it links your funds to your account instantly and skips a separate deposit step later.
Switzerland has DNS-level blocking on polymarket.com. You will need a VPN to access the platform, though bypassing the block does not make usage legal under Swiss law. See our full guide on whether Polymarket is legal in Switzerland before proceeding.
Step 4: Complete KYC Verification
Polymarket requires identity verification to unlock full withdrawal access. The KYC process involves uploading a government-issued ID (Swiss passport or identity card) and completing a short facial recognition scan. Approval typically takes between a few minutes and a few hours. Unverified accounts have lower withdrawal limits, so completing KYC early is recommended.
Step 5: Browse Markets and Place Your First Trade
Once your wallet is connected and funded, your USDC balance appears on the dashboard. Browse open markets by category, politics, economics, sports, and crypto are the most active. Select a market, choose a Yes or No position, enter your stake, and confirm the transaction in MetaMask. Before trading regularly, review the trading fees and withdrawal options so you understand the cost structure.
Taxes on Polymarket Winnings in Switzerland
Switzerland does not impose a federal capital gains tax on private individuals trading financial assets. In most cantons, profits from speculative trading, including prediction markets, are treated as tax-free capital gains rather than income, provided trading is not your primary profession.
However, Swiss tax law distinguishes between private investors and professional traders. If the frequency, volume, or leverage of your trading suggests a professional activity, cantonal tax authorities may reclassify your gains as taxable income. Rules vary by canton, so consulting a Swiss tax advisor is advisable if you trade at significant volume.
Wealth Tax Consideration
Switzerland levies a wealth tax on total net assets, including crypto holdings. Any USDC balance held in your Polymarket or MetaMask wallet at the end of the tax year should be declared as part of your taxable wealth. The rates are generally low but vary by canton.
Risks Swiss Traders Should Know
Polymarket has no licensed presence in Switzerland and is not regulated by FINMA (the Swiss Financial Market Supervisory Authority). This means Swiss consumer protection laws do not apply to your funds on the platform. Understanding whether Polymarket can freeze your funds is a key part of managing your risk before depositing.
- No FINMA oversight: No Swiss regulatory body supervises or protects your Polymarket account
- Smart contract risk: Funds are held on the Polygon blockchain and are subject to smart contract vulnerabilities
- Market resolution disputes: Outcomes are resolved by an oracle system that can occasionally be contested
- No deposit insurance: Unlike a Swiss bank account, there is no guarantee on funds held on the platform
- Regulatory change: FINMA could issue guidance on prediction markets at any time as crypto regulation evolves
Trading Smarter on Polymarket
Once your account is active, the quality of your results depends entirely on how you approach each market. A disciplined Polymarket trading strategy focuses on identifying markets where the crowd probability is mispriced relative to available data, rather than trading on opinion or gut feeling.
If you want to explore other prediction platforms before committing to Polymarket, a comparison of Polymarket vs Kalshi vs PredictIt will help you understand the key differences in market availability, fees, and regulatory status across platforms.
Frequently Asked Questions
Is Polymarket available in Switzerland without a VPN?
Polymarket is officially blocklisted in Switzerland under the Federal Act on Money Games, a VPN is required to access it, though this does not make usage legal
Which crypto exchange can I use to buy USDC in Switzerland?
Kraken, Coinbase, and Binance are all available to Swiss residents and support USDC withdrawals on the Polygon network. Kraken is particularly popular in Switzerland due to its strong compliance track record and CHF trading pairs.
Do I need to declare Polymarket profits on my Swiss tax return?
For most private traders, profits from prediction markets are treated as tax-free capital gains under Swiss federal law. However, you should declare any crypto holdings as part of your annual wealth tax declaration. Cantonal rules differ, so consulting a local tax advisor is recommended for high-volume trading.
What ID do I need for Polymarket KYC in Switzerland?
A Swiss passport, Swiss national identity card, or a valid Swiss residence permit are all accepted for KYC verification on Polymarket. The process is completed entirely online and typically takes under an hour for approval.
