Yes, you can use Polymarket in Canada, unless you live in Ontario. Ontario is permanently blocked following a 2025 regulatory enforcement action. In every other province and territory you can sign up, deposit and trade without restrictions, and there’s no ID verification on the international exchange.
Current Status by Province
| Province or territory | Status |
|---|---|
| British Columbia | Accessible |
| Alberta | Accessible |
| Saskatchewan | Accessible |
| Manitoba | Accessible |
| Ontario | Blocked (permanent ban since April 2025) |
| Quebec | Accessible |
| New Brunswick | Accessible |
| Nova Scotia | Accessible |
| Prince Edward Island | Accessible |
| Newfoundland and Labrador | Accessible |
| Yukon, Northwest Territories, Nunavut | Accessible |
Why Is Ontario Blocked?
In April 2025, the Ontario Securities Commission (OSC) brought enforcement action against Polymarket’s parent entities — Blockratize Inc. and Adventure One QSS Inc. — before the Capital Markets Tribunal.
The settlement included:
- $200,000 CAD administrative penalty plus $25,000 for investigation costs
- A permanent ban on Polymarket offering services to Ontario residents
- A two-year market ban (until 2027) on the operating companies
The OSC’s case was that Polymarket offered binary options to Ontario retail investors between June 2020 and May 2023 without a license. Under Canadian securities law, prediction market contracts — which pay $1 if an outcome occurs and $0 if it doesn’t — are classified as binary options.
Ontario is one of only four sub-regions in the world individually geoblocked by Polymarket (alongside Crimea, Donetsk, and Luhansk in Ukraine).
The Legal Grey Area Outside Ontario
Even outside Ontario, Polymarket operates in a legal grey area in Canada. The Canadian Securities Administrators (CSA) issued a blanket ban in 2017 on the advertising, offering, sale, or trading of short-term binary options to retail investors. Since prediction market contracts are structurally identical to binary options, they technically fall under this prohibition.
However, enforcement outside Ontario has not occurred. No other Canadian securities regulator has taken action against Polymarket or its users. Polymarket does not block access from any other Canadian province.
This means:
- Legally: There’s an argument that using Polymarket from Canada violates the CSA binary options ban
- Practically: Only Ontario enforces it, and Polymarket is freely accessible everywhere else
- For users: Thousands of Canadians outside Ontario use Polymarket without issue
Betting on Sports from Canada
Polymarket lists the leagues Canadians follow most: the NHL, NFL, NBA, MLB, CFL, MLS and the Canadian Premier League, plus season futures such as the Stanley Cup, Super Bowl and NBA championship.
It works as an exchange rather than a sportsbook. You buy shares in an outcome from other traders, each winning share pays $1, and you can sell at the market price at any time before the result, including mid-game. There’s no vig built into the prices, and Polymarket doesn’t limit winning accounts, because it never takes the other side of your bet. Polymarket sports betting explains how it works, and the no-vig calculator shows how much margin your current sportsbook is charging.
How to Deposit from Canada
The easiest deposit method for Canadians is buying USDC on a local exchange and transferring it to Polymarket.
Step 1: Buy USDC on a Canadian Exchange
| Exchange | Interac e-Transfer | Trading Fees | USDC Available |
|---|---|---|---|
| Coinbase | Yes | 0-0.6% | Yes |
| Shakepay | Yes | Spread (~1.5%) | Yes |
| Newton | Yes | Spread (~0.5-2%) | Yes |
| Bitbuy | Yes | 0.1-0.2% | Yes |
| Kraken | Yes (via wire) | 0-0.26% | Yes |
Recommendation: Coinbase is the simplest option because Polymarket also supports direct Coinbase Connect deposits. You can link your Coinbase account directly to Polymarket without manually transferring crypto.
Step 2: Transfer USDC to Polymarket
- Go to the Deposit page on Polymarket
- Select Use Crypto and copy your deposit address
- Send USDC from your Canadian exchange to the Polymarket address
- Choose Polygon for the lowest fees ($3 minimum, arrives in seconds)
The whole process takes about 10-15 minutes from Interac e-Transfer to trading on Polymarket.
For a detailed walkthrough, see our How to Deposit on Polymarket guide.
Tax Considerations
The CRA (Canada Revenue Agency) treats cryptocurrency trading gains as taxable income:
- Capital gains (most casual traders): 50% of the gain is taxable at your marginal rate
- Business income (frequent/professional traders): 100% taxable
Whether your Polymarket trading is classified as capital gains or business income depends on factors like frequency, intent, and whether it’s your primary income source. Most casual traders report gains as capital gains.
Important: The CRA requires reporting of all crypto dispositions. Selling shares on Polymarket or receiving payouts from resolved markets are both taxable events. Keep records of all your trades.
Consult a Canadian tax professional for advice specific to your situation.
Tips for Canadian Users
- Use Coinbase Connect for the fastest deposits — link your Coinbase account directly to Polymarket without manual crypto transfers
- Interac e-Transfer to a Canadian exchange is the cheapest way to get funds into the crypto ecosystem
- Deposit via Polygon for the lowest blockchain fees ($3 minimum)
- Ontario residents: The platform is geoblocked by IP address. Some users in restricted regions access international platforms by routing their internet connection through a different geographic location.
Getting Started
Ready to start trading on Polymarket from Canada?
- Sign up for Polymarket — takes under 2 minutes, no KYC required
- Deposit funds — buy USDC on Coinbase and transfer or use Coinbase Connect
- Place your first trade — browse markets and start with a small amount
Related Guides
- All Country Guides — Check availability for every country
- Country Availability Checker — Instant status lookup for 190+ countries
- How Does Polymarket Work? — Full platform overview
- How to Sign Up for Polymarket — Create your account
- How to Deposit on Polymarket — Full deposit guide with all methods
- How to Trade on Polymarket — Market orders, limit orders, and tips
- Polymarket Sports Betting — Leagues, market types, odds and in-play trading
- Polymarket Fees Explained — Understand the fee structure (or use the fee calculator)
- Polymarket Review 2026 — Our honest review after 3 years of trading