Polymarket Still Cares about Chinese Customer Base

China is among the countries to have turfed out Polymarket, deeming the company to be offering a product that is too closely aligned with traditional gambling. 

Polymarket Not Backing Down from China 

Now, though, Polymarket’s Justin Wang has confirmed that the company is still taking care of registered Chinese customers and maintaining services for the country’s nationals. 

“China is becoming a very important geography” for Polymarket, Wang noted. Chinese customers are much like their Western counterparts and have been keen to explore various event outcomes, including placing predictions on the Lunar New Year.

Wang noted that the monthly trading volume from Asian customers in general was in the hundreds of millions of dollars, highlighting how important they have become. As to how Polymarket can be accessed from within China, customers are using Virtual Private Networks, circumventing local restrictions. 

China is hardly the only country to have taken a dim view of the platform, however. France and Portugal in Europe have acted in kind, along with the Netherlands, whose gambling regulator just slapped the prediction market platform with a six-figure fine.

Furthermore, Australia and New Zealand have also deemed Polymarket to constitute a form of gambling and have asked it to leave the country, blocking service. 

Ironically, Polymarket is making a return to the United States, and it is likely that it will be stopped in its home market or, as the present fact suggests, abroad.