The answer now depends on which Polymarket product and which contract a user means. The older shorthand that Polymarket is simply unavailable in the United States is no longer accurate. The global on-chain venue and Polymarket US are distinct regulated and technical surfaces, and their eligibility rules should not be treated as interchangeable. This article is a practical overview, not legal advice.
| Product | Regulatory status | Note |
|---|---|---|
| Kalshi | CFTC-designated contract market since 2020 | Regulated U.S. account model with identity verification |
| Polymarket US | CFTC-designated (QCX LLC, doing business as Polymarket US) | A distinct product from Polymarket's global venue, not interchangeable access |
| Polymarket (global) | Not the regulated U.S. surface | On-chain, with its own custody model and available contracts |
The CFTC framework
Event contracts offered through U.S. derivatives venues fall under the Commodity Futures Trading Commission. A U.S. exchange offering those contracts generally operates as a designated contract market, or DCM, and remains subject to federal exchange, surveillance, clearing, and customer-protection requirements. The contract itself also matters: a venue's regulated status does not mean every possible market is available to every customer.
Kalshi
Kalshi has been a CFTC-designated contract market since 2020. It operates through a regulated U.S. account model with identity verification and venue-specific rules. The CFTC continues to list Kalshi as designated, and its contracts and rule changes appear in the Commission's public filing system.
That federal status is the relevant starting point, but users should still check current Kalshi terms, contract restrictions, and any applicable state or local requirements. Rivo does not determine whether a particular user is eligible to trade a particular market.
Polymarket and Polymarket US
Polymarket's global product is the on-chain market many traders associate with the brand. Its access rules, custody model, and available contracts are not the same as the regulated U.S. surface. Users should not assume that access to one product grants access to the other.
The material 2026 update is that the CFTC lists QCX LLC, operating under the assumed name Polymarket US, as a designated contract market. That makes older articles claiming that Polymarket has not entered the regulated U.S. market obsolete. It does not erase the distinction between Polymarket US and the global on-chain venue, or make every global market available through the U.S. entity.
What users should verify
Before trading, verify the exact venue entity, account terms, jurisdiction rules, contract eligibility, funding method, fees, and resolution source. Do not use a VPN or another circumvention method to bypass a venue restriction. If the answer affects meaningful capital or a regulated business, consult counsel in the relevant jurisdiction.
To see which venues accept traders from your country or state, use the prediction market location checker.
How Rivo treats venue access
Rivo is an intelligence and execution interface for third-party venues. It keeps the venue attached to each market and trade because source identity, order behavior, trader records, and eligibility are not interchangeable. Connecting an account does not transfer custody to Rivo, and Rivo does not override venue eligibility or market restrictions.
Taxes and reporting
Prediction-market gains and losses may be taxable, but classification can depend on the venue, contract, taxpayer, and jurisdiction. Do not rely on a marketing page for a fixed tax characterization. Keep venue statements and transaction records, and ask a qualified tax professional how the activity should be reported.
Frequently asked questions
Is Polymarket legal in the United States in 2026?
Polymarket US now operates through a CFTC-designated entity. That does not mean the global on-chain product or every global contract is available to U.S. users. Check the exact product and current venue terms.
Is Kalshi regulated?
Yes. The CFTC lists Kalshi as a designated contract market. Users must still satisfy the venue's current account and contract eligibility rules.
Can I use a VPN to reach a restricted venue?
Circumventing a geographic or account restriction can violate venue terms and create legal, account, and recovery risk. Use only the products for which you are eligible.
Are prediction-market winnings taxable?
They may be. Treatment varies with the contract, venue, taxpayer, and jurisdiction. Keep complete records and consult a tax professional rather than assuming one universal rule.