Polymarket adds deposit limits, lock-outs to combat trading addiction
Prediction market startup Polymarket has introduced tools to help users manage compulsive behavior, including voluntary deposit limits and lock-outs. The platform has also partnered with a behavioral health provider to offer treatment resources for users with compulsive trading habits.
Polymarket on Wednesday introduced tools aimed at helping users curb compulsive trading, including voluntary deposit limits, lock-outs and access to mental health resources. Traders can now lock themselves out of the platform for 30 days, one year or a lifetime, while US users can also set daily, weekly or monthly deposit caps. The company said any request to lower deposit limits will take effect immediately, but requests to raise or remove them will trigger a mandatory cooling-off period. Polymarket said it has partnered with US behavioral health provider Birches Health to provide treatment resources for users with compulsive behavior.
The prediction markets industry, led by Polymarket and rival Kalshi, has grown by allowing punters to bet on sports events, elections and military operations. Critics have raised concerns about addiction, investor protection and market oversight. Polymarket says its telehealth service is available across all 50 states and includes clinical assessments and customized recovery plans. The company also launched a Trust & Safety Center outlining its platform rules and user protection policies.