US Users Dominate Polymarket Despite Official Ban

New research from blockchain analytics firm Allium found that US-based users are the largest political betting group on Polymarket by both trading volume and wallet count, despite the platform officially barring American users. The report noted that blocking access didn’t end participation, it simply pushed it offshore and out of regulatory reach.

Iran War Markets Draw Heavy US Interest

The data showed American users gravitate toward foreign conflict markets rather than elections, with five of their twelve most-traded markets tied to the Iran war. Allium noted US money flows heavily into overseas conflicts while mostly skipping the election markets popular with the rest of the platform’s users.

A separate study from a Rutgers University statistician estimated US traders sent between $10.6 billion and $26.7 billion through the platform over the past year, roughly 30% of total volume, despite IP and VPN blocking efforts.

Polymarket has reportedly been cracking down further on VPN usage to close the loophole. The platform remains fully blocked in more than 34 countries, including Spain, which recently restricted access while investigating licensing concerns, along with several regions operating under partial restrictions.