Key facts
- Polymarket introduced voluntary deposit limits and lock-outs for users.
- Users can lock themselves out of the platform for 30 days, one year, or a lifetime.
- US users can cap daily, weekly, or monthly deposits.
- Requests to raise or remove deposit limits trigger a mandatory cooling-off period.
- Polymarket partnered with Birches Health for treatment resources for compulsive trading habits.
- Polymarket and New York's attorney general had sued each other last week.
Prediction market startup Polymarket on Wednesday rolled out a slew of tools to help users manage compulsive behavior, including voluntary deposit limits, lock-outs, and access to mental health resources. The move comes after Polymarket and New York's attorney general sued each other last week, escalating a 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 cap their daily, weekly, or monthly deposits. Any move to lower deposit limits takes effect immediately, while requests to raise or remove them will trigger a mandatory cooling-off period, the company said.