Polymarket is accessible in Andorra — the platform does not geoblock Andorran IP addresses. The Principality is positioning itself as a fintech and blockchain hub, having passed a dedicated digital-assets law (Law 24/2022) supervised by the Andorran Financial Authority (AFA), and it offers one of Europe’s lowest maximum income tax rates at 10%. Here’s what Andorran users need to know about using Polymarket.
Current Status: Accessible
Andorra is not on Polymarket’s geoblocked countries list. The platform is fully accessible from Andorran IP addresses. Andorran users can sign up, deposit, and trade on all available markets.
Andorra has actively embraced digital assets and blockchain. The country passed Law 24/2022 (30 June 2022) on the digital representation of assets using cryptography and distributed ledger/blockchain technology, giving legal validity to tokenization and establishing a regulatory framework enforced by the AFA. Andorra is not an EU member, so it is not directly bound by the EU’s MiCA regulation, though future alignment is expected under the EU–Andorra Association Agreement.
The legal landscape for prediction markets in Andorra sits in a grey area: crypto itself is legal and increasingly regulated for professionals, but prediction markets specifically are not addressed by either the digital-assets or the gambling frameworks. There is no record of enforcement against Andorran Polymarket users.
The Legal Landscape
The Andorran Financial Authority (AFA)
The AFA (Autoritat Financera Andorrana) is Andorra’s financial regulator, responsible for authorizing, registering, supervising, and controlling financial activity in the Principality, including digital-asset service providers.
Under Law 24/2022, professional activities linked to blockchain and digital assets — such as the issuance and custody of tokens or operating platforms for selling them — must be authorized and supervised by the AFA. As of 2026 the AFA supervises a small number of virtual-asset service providers (VASPs) in Andorra.
This framework targets regulated service providers, not individual users of overseas platforms. Andorran residents using a decentralized, non-custodial platform like Polymarket are not directly subject to AFA licensing requirements.
Gambling and Prediction Markets
Andorra regulates gambling through the CRAJ (Consell Regulador Andorrà del Joc, the Andorran Gaming Regulatory Council), with the framework built around Law 37/2014. Land-based gambling (such as the Grandvalira casino) is regulated, while comprehensive licensing of online gambling has been slower to develop.
Prediction markets like Polymarket are not specifically covered by either the gambling framework or the digital-assets law. As a decentralized, crypto-based platform it falls into an unregulated gap. There is no explicit ban and no specific enforcement action against users, but the activity remains legally undefined.
AML and the Financial Sector
Andorra operates a strict anti-money-laundering regime aligned with international standards, and the AFA requires digital-asset service providers to file AML declarations. Because foreign platforms used by Andorran users aren’t locally licensed, they are not subject to Andorran VASP requirements. Andorran banks are known to scrutinize the provenance of funds closely, so keeping clean records of on-ramp purchases and transfers is advisable.
How to Deposit from Andorra
Andorra uses the euro (EUR), and the country is part of the Single Euro Payments Area (SEPA). This makes the standard European on-ramp — buying USDC on a global exchange with a SEPA bank transfer — the most convenient route.
Step 1: Buy USDC on a Local or Global Exchange
| Exchange | EUR / SEPA Support | Card Payments | Notes |
|---|---|---|---|
| Binance | Yes (SEPA) | Yes | SEPA support for Andorra; widely used locally |
| Coinbase | Yes (SEPA) | Yes | Established in Andorra; straightforward EUR on-ramp |
| Kraken | Yes (SEPA) | Yes | Popular with Andorran users and banks |
Deposit Methods Explained
SEPA Bank Transfer: Because Andorra participates in SEPA, you can send euros directly from an Andorran bank account to your exchange. Binance, for example, offers SEPA bank-transfer deposits for Andorra. SEPA transfers are cheap and typically arrive within one business day (or instantly with SEPA Instant). This is the recommended method.
Debit / Credit Card: If you prefer, you can often buy USDC or USDT directly on an exchange with a Visa or Mastercard. Card purchases tend to carry higher fees and can be declined depending on your bank’s policy toward crypto merchants.
Transfer from another exchange or wallet: If you already hold USDC on another platform, you can simply send it to your destination exchange (or directly to Polymarket) before trading.
Step 2: Transfer USDC to Polymarket
- Go to Deposit on Polymarket
- Select Use Crypto and copy your deposit address
- Send USDC from your exchange to the Polymarket address
- Choose Polygon for the lowest fees ($3 minimum, arrives in seconds)
For the full walkthrough, see our How to Deposit on Polymarket guide.
Tax Implications
Andorra has one of the lowest personal income tax rates in Europe (maximum 10%) and no wealth tax. Crypto trading profits are taxed as capital gains under the personal income tax.
Personal Income Tax (IRPF)
Andorran tax residents pay personal income tax (IRPF) on their income. The general income has three brackets with a maximum rate of 10%:
| Taxable Income (EUR) | Rate |
|---|---|
| Up to 24,000 | Exempt (minimum threshold) |
| 24,000 – 40,000 | 5% (effective on the excess) |
| Over 40,000 | 10% (maximum) |
How Crypto Gains Are Taxed
- Gains from trading crypto are treated as capital gains under the savings base of the personal income tax, taxed at a flat 10% rate.
- An annual exemption applies to the first €3,000 of capital gains.
- Each crypto-to-crypto exchange or sale is a taxable event — gain or loss is calculated as the value at sale minus the value at acquisition. Profits from trading on Polymarket fall under this framework.
Reporting Requirements
- As a tax resident you are responsible for declaring capital gains on your annual personal income tax return.
- There is no withholding tax on foreign platform trades — self-reporting is your responsibility.
- Keep detailed records of all deposits, trades, withdrawals, and EUR values, especially given the strict bank scrutiny of fund provenance.
- Note that Andorra has signed the OECD’s Crypto-Asset Reporting Framework (CARF); automatic exchange of crypto transaction information with other jurisdictions is expected from 2027.
What You Don’t Pay
- No wealth tax — simply holding crypto is not taxed.
- No capital gains exemption distinction by holding period for crypto — the 10% savings-base rate applies regardless of how long you hold.
- No separate crypto surcharge — standard IRPF treatment applies.
Because the specific treatment of prediction-market winnings is not explicitly settled, consider consulting a tax professional for your particular situation.
Getting Started
If you’re in Andorra and want to start trading on Polymarket:
- Sign up for Polymarket — under 2 minutes, no KYC required
- Buy USDC on Binance, Coinbase, or Kraken via SEPA using euros
- Deposit on Polymarket — transfer USDC via Polygon
- Place your first trade — start with a small amount
- Use limit orders to avoid taker fees — only taker orders pay fees on Polymarket
Related Guides
- How to Sign Up for Polymarket — Create your account
- How to Deposit on Polymarket — Full deposit guide
- How to Trade on Polymarket — Market orders, limit orders, and tips
- Polymarket Fees Explained — Fee breakdown by category