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Polymarket introduces deposit limits, lock-outs to combat trading addiction

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Prediction market startup Polymarket on Wednesday rolled out a slew of tools to help users manage compulsive behavior, includingvoluntary deposit limits, lock-outs and access to mental health resources.

Polymarket and New York's attorney general had sued each other last week, escalating a nationwide debate over whether prediction markets violate state laws against illegal ?gambling.

Traders can now voluntarily lock themselves out of the platform for 30 days, one year or a lifetime. US users can also now cap their daily, weekly or monthly deposits.

Any move to lower the deposit limits takes effect immediately, while requests to raise or remove them will trigger a mandatory cooling-off period, the company said.

The prediction markets industry, pioneered by Polymarket and rival Kalshi, rose to prominence by allowing punters to bet on almost anything, including sports events, elections and military operations.

Critics of the platforms have raised concerns about addiction, investor protection and market oversight.
Polymarket said it has partnered with US behavioural health provider Birches Health to offer treatment resources for users with compulsive trading habits.The telehealth service is available across all 50 states and includes clinical assessments and customised recovery plans.

Polymarket also introduced a Trust & Safety Centre to detail its platform rules and user protection policies.

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