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Polymarket in Belgium (2026) | Close-Only — BGC Blacklist, Legal Status & Tax Guide

Polymarket is close-only in Belgium after the Belgian Gaming Commission (Kansspelcommissie) blacklisted the platform, so new trades can't be opened. Classified as illegal gambling without a licence. Full breakdown for Belgian users.

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Polymarket is close-only in Belgium. If you’re a new visitor, you can’t start trading here — new positions cannot be opened. The Belgian Gaming Commission (Kansspelcommissie / Commission des Jeux de Hasard) blacklisted the platform in January 2025 for operating without a Belgian gambling licence; as a result, Polymarket restricts Belgian accounts to closing existing positions only.

Current Status: Close-Only

In January 2025, the Belgian Gaming Commission added Polymarket to its official list of illegal gambling operators, after warnings went unanswered over the platform operating without a Belgian gambling licence. The regulator also instructed Belgian internet service providers to block access. Following this, Polymarket lists Belgium as close-only: Belgian accounts can close positions they already hold, but cannot open new ones. For most visitors this means Polymarket is effectively off-limits for starting new trades in Belgium.

Why Polymarket Restricts Belgium

The Belgian Gaming Commission (BGC)

The Belgian Gaming Commission (Kansspelcommissie in Dutch, Commission des Jeux de Hasard in French) is the official regulator of the gambling sector in Belgium, established by the Gambling Act of 7 May 1999. It supervises all licensed gambling activity in the country and maintains a published list of illegal operators that offer gambling services to Belgian residents without the required licence.

Prediction markets and event trading are not licenced products in Belgium, so platforms like Polymarket that operate without a Belgian licence fall outside the regulated framework. The BGC blacklisted Polymarket effective 30 January 2025 after the platform did not respond to its warnings about offering gambling services without a licence, and instructed Belgian ISPs to block access.

Belgian Gambling Law

Belgium operates a restrictive, licence-based gambling regime:

  • All gambling offered to Belgian residents requires a licence from the Belgian Gaming Commission (issued under the Gambling Act of 7 May 1999, as amended)
  • Only licensed operators — predominantly state- or region-licensed sports betting and casino operators — may offer gambling legally
  • Prediction markets and crypto-based event trading have no licensing pathway under Belgian gambling law
  • Unlicensed operators that target Belgian residents can be added to the Commission’s blacklist of illegal gambling sites

There is no legal licence under which Polymarket could operate its prediction-market products in Belgium today.

Financial and Crypto Regulation

Crypto activity in Belgium is overseen by the FSMA (Financial Services and Markets Authority). Under EU-wide MiCA (Markets in Crypto-Assets Regulation), the FSMA is Belgium’s designated competent authority for crypto-asset service providers, and crypto businesses operating in Belgium must be authorised. MiCA does not specifically regulate prediction markets, but it adds a further layer of regulatory requirement for any crypto-based platform and its stablecoin mechanics.

Belgian Alternatives

Belgium’s legal betting market is restricted compared to countries like the UK:

PlatformTypeLicensed in BelgiumNotes
Belgian State Lottery (Loterie Nationale)Lottery, some bettingYesState-regulated operator
Napoleon GamesCasino, sportsbookYesOne of Belgium’s major licence holders
BetwaySportsbookYesLicensed operator in Belgium
UnibetSportsbook, casinoYesLicensed, part of Kindred Group

Key limitations:

  • No prediction markets — politics, economics, and event betting are not offered
  • No betting exchanges — Belgium does not licence exchange-style platforms
  • Full KYC required on all licensed platforms

There is no legal Polymarket-equivalent available in Belgium.

Trading Status in Belgium

Polymarket’s restriction for Belgium is close-only: a Belgian account can close positions it already holds, but it cannot open new ones. This differs from a full block — existing exposure can still be unwound rather than being frozen.

For a new visitor, the practical result is that you can’t start trading — there is no way to open a fresh position on Polymarket from Belgium today.

Polymarket applies the close-only status to accounts tied to Belgian residency, so existing users should focus on closing any open positions. Belgian crypto exchanges for moving funds include:

ExchangeEUR DepositsNotes
BitstampSEPALong-established European exchange, good EUR support
CoinbaseSEPA, cardMajor global exchange, Coinbase Connect works with Polymarket
KrakenSEPALow fees, good USDC liquidity
BitpandaSEPA, cardAustrian exchange popular across Europe

Tax Implications

Belgium’s tax treatment of crypto changed significantly from 1 January 2026, introducing a capital gains tax on crypto-assets.

The New 10% Capital Gains Tax (from 2026)

Belgium historically did not tax most individual capital gains, but a new 10% capital gains tax applies to gains on financial assets — including crypto — realised from 1 January 2026 within the normal management of private assets. This comes with an annual exemption for the first €10,000 of gains.

  • Gains accrued up to 31 December 2025 are generally exempt from the new 10% tax
  • Gains from speculative activity (for example, frequent short-term trading) are taxed at 33% as miscellaneous income
  • Gains from a regular, organised professional activity are taxed at progressive income-tax rates
  • Staking and similar crypto rewards can be treated as income from movable property

Reporting Requirements

  • Under the EU’s DAC 8 directive (applicable from 2026), crypto-asset service providers are required to report Belgian users’ transactions to the tax authorities, and crypto accounts are being linked to Belgium’s Central Point of Contact register
  • This significantly reduces the anonymity of crypto holdings and increases the risk of audit
  • Keep detailed records of all deposits, trades, withdrawals, and conversion rates

Frequently Asked Questions

Is Polymarket available in Belgium?
Not for new trading. Polymarket lists Belgium as close-only: existing Belgian accounts can close their open positions, but new trades cannot be opened. This follows the Belgian Gaming Commission (Kansspelcommissie) blacklisting Polymarket in January 2025 for operating without a Belgian gambling licence.
Why is Polymarket close-only in Belgium?
The Belgian Gaming Commission (BGC / Kansspelcommissie), the regulator established by the Gambling Act of 7 May 1999, added Polymarket to its list of illegal gambling operators in January 2025 after warnings went unanswered, citing operation without a Belgian gambling licence, and instructed Belgian ISPs to block access. Because of this classification, Polymarket restricts Belgium to close-only — existing positions can be closed, but new ones cannot be opened.
Is it legal to use Polymarket in Belgium?
The BGC has classified Polymarket as an illegal gambling operator under Belgian gambling law because it does not hold a Belgian licence. The situation for individual users is a grey area — enforcement is directed at unlicensed operators rather than at individual traders — but Belgian users cannot open new trades on Polymarket regardless. Licensed betting in Belgium is limited to state-licensed sports betting and casino operators.
How is Polymarket taxed in Belgium?
From 1 January 2026 Belgium introduced a 10% capital gains tax on crypto-asset gains realised within normal management of private assets, with an annual exemption for the first €10,000. Gains from speculative trading are taxed at 33% as miscellaneous income, and gains from a regular, organised professional activity are taxed at progressive income-tax rates. Polymarket profits generally fall within the capital-gains framework.
Can existing Belgian users close their positions at least?
Yes. Close-only means Belgian accounts can still close positions they already hold, but cannot open new ones. For a new visitor the practical result is that there is no way to open a fresh position on Polymarket from Belgium today.