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Polymarket in Cambodia (2026) | Accessible — How to Deposit, Legal Status & Tax Guide

Polymarket is accessible in Cambodia. Learn how Cambodian users deposit USDC via Bybit or Binance, the NBC's Bakong and 2024 cryptoasset framework, and Cambodia's tax picture for crypto gains.

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Polymarket is accessible in Cambodia — the platform does not geoblock Cambodian IP addresses. Cambodia’s crypto landscape is defined by the National Bank of Cambodia’s (NBC) Bakong central bank digital currency and a market that is heavily dollarized, which makes USDC a convenient on-ramp. Here’s what Cambodian users need to know about using Polymarket.

Current Status: Accessible

Cambodia is not on Polymarket’s geoblocked countries list. The platform is fully accessible from Cambodian IP addresses, and users can sign up, deposit, and trade on all available markets.

Cambodia is notable in the region for launching Bakong, the NBC’s blockchain-based digital currency, in October 2020. Bakong reported roughly 8.5 million users by the end of 2022 and processed over 770 million transactions in 2025, giving Cambodia one of Asia’s most active central-bank digital currency and instant-payment ecosystems. The country is also highly dollarized — the US dollar circulates widely alongside the Cambodian riel (KHR) — which makes dollar-pegged stablecoins like USDC a natural fit for local traders.

Crypto adoption itself remains modest relative to neighbours like Vietnam, partly because the NBC historically warned against crypto and only recently opened a licensed framework. Prediction markets sit in an unregulated grey area with no record of enforcement against Cambodian users.

A Shift from Prohibition to a Licensed Framework

Cambodia’s crypto stance changed materially in late 2024. In 2018, the National Bank of Cambodia (NBC), the Securities and Exchange Regulator of Cambodia (SERC), and the General-Commissariat of National Police issued a joint statement prohibiting unlicensed crypto activities. The NBC also made clear that cryptocurrencies are not recognized as legal tender in Cambodia.

On 26 December 2024, the NBC passed Prakas B7-024-735 Prokor on Transactions Related to Cryptoassets. Under this framework:

  • Commercial banks and payment settlement institutions may provide cryptoasset services with prior approval from the NBC
  • Other legal entities (cryptoasset service providers, or CASPs) may do so only with an NBC license
  • Banks may hold Group 1 assets (tokenized securities and stablecoins) for their own account, but not Group 2 (unbacked cryptocurrencies like Bitcoin or Ether)

Importantly, this framework regulates licensed institutions and CASPs — it does not govern an individual’s use of an overseas decentralized platform. Central bank digital currency (CBDC) such as Bakong is explicitly excluded from the definition of cryptoassets in the Prakas.

Bakong and KHQR

Bakong is the NBC’s blockchain-based digital payment system, launched on 28 October 2020 on Hyperledger Iroha technology. It supports both the riel and the US dollar and interoperates with the national KHQR QR standard, which had been adopted by over 4.5 million merchants by 2025. Bakong underpins instant bank-to-bank and wallet-to-wallet payments across Cambodia — though it is a payment system, not a venue for trading prediction markets.

AML/CFT Oversight

Licensed crypto firms must comply with Cambodia’s AML/CFT law, supervised by the Cambodia Financial Intelligence Unit (CAFIU) — part of the NBC. Requirements include customer due diligence (KYC), suspicious transaction reporting, and record-keeping. These obligations apply to regulated businesses, not to an individual trading on an overseas platform.

How to Deposit from Cambodia

Cambodia’s heavy dollarization and active fintech scene provide workable on-ramps, even though access is mostly through international exchanges rather than locally licensed ones.

Step 1: Buy USDC on an Exchange

ExchangeBank CardKHR P2PNotes
BybitYesYesWidely used in Cambodia; P2P runs in both USD and KHR via ABA, ACLEDA, Wing, KHQR
BinanceYesYesGlobal leader; KHR P2P available
OKXYesYesPopular in the region; P2P and card options

Deposit Methods Explained

Bank card: Cambodian debit/credit cards (including those from ABA Bank, ACLEDA, and other local banks) can generally fund international exchanges where card deposits are accepted. This is the fastest option where available.

KHR / USD P2P: Peer-to-peer trading lets you buy USDC directly from other users using local payment methods such as ABA Pay, Wing, or KHQR. Cambodia’s mobile-money scene is well developed — Wing alone reports around 10 million unique wallet users — making P2P a practical local rail.

Because Cambodia is heavily dollarized, USDC (a USD-pegged stablecoin) is widely available and a natural choice for funding Polymarket positions.

Step 2: Transfer USDC to Polymarket

  1. Go to Deposit on Polymarket
  2. Select Use Crypto and copy your deposit address
  3. Send USDC from your exchange to the Polymarket address
  4. 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

Cambodia does not have a dedicated crypto tax code, and the treatment of crypto gains for individuals is not clearly settled.

Capital Gains Tax (CGT)

Cambodia’s 20% capital gains tax took effect on 1 September 2025, administered by the General Department of Taxation (GDT) under Prakas 346. It applies to specified asset classes — including immovable property, leases, shares and other investments, goodwill, and intellectual property. Cryptocurrency is not explicitly listed among these categories, so whether crypto gains fall within the scope of CGT (for example, as an investment) is currently unclear.

General Income Framework

For individuals, crypto profits may fall under Cambodia’s general income-tax framework, where employment income is taxed at progressive rates up to 20% and the corporate income tax rate is 20%. There is no specific crypto surcharge, and no clear, publicly documented enforcement framework for taxing individuals’ overseas crypto trading.

What You Don’t Pay

  • No VAT is charged on crypto-to-crypto conversions
  • No dedicated crypto tax exists — there is no published specific rate for crypto gains
  • Cambodian tax authorities are not known to actively pursue individual crypto traders, though this may evolve as the GDT builds out the new capital-gains regime

Because the rules are evolving, keep records of all deposits, trades, and withdrawals, and seek local tax advice before reporting.

Getting Started

If you’re in Cambodia and want to start trading on Polymarket:

  1. Sign up for Polymarket — under 2 minutes, no KYC required
  2. Buy USDC on Bybit or Binance via bank card or KHR/USD P2P
  3. Deposit on Polymarket — transfer USDC via Polygon
  4. Place your first trade — start with a small amount
  5. Use limit orders to avoid taker fees — only taker orders pay fees on Polymarket

Frequently Asked Questions

Is Polymarket available in Cambodia?
Yes. Polymarket does not geoblock Cambodian IP addresses, so the platform is fully accessible from Cambodia. Polymarket is not a licensed cryptoasset service provider under NBC rules, but there is no block preventing Cambodian users from accessing it.
Is Polymarket legal in Cambodia?
This is a grey area. Cambodia's National Bank of Cambodia (NBC) shifted its stance in late 2024 with a Prakas on cryptoassets that permits licensed banks and firms to offer crypto services — but decentralized platforms like Polymarket sit outside that licensed framework. There is no specific law addressing prediction markets and no enforcement action targeting Cambodian Polymarket users.
How do Cambodians deposit on Polymarket?
Buy USDC on an exchange like Bybit or Binance using a bank card or KHR P2P trading, then transfer the USDC to your Polymarket deposit address via the Polygon network. Cambodia is highly dollarized, so USDC is widely traded.
How is Polymarket taxed in Cambodia?
Cambodia has no dedicated crypto tax law. A 20% capital gains tax took effect in September 2025 for specified asset classes like property, shares and goodwill, but cryptocurrency is not explicitly listed, so its treatment is uncertain. Crypto income is generally captured under Cambodia's standard income-tax framework — keep records and check with the General Department of Taxation (GDT), as individual enforcement currently remains limited.
Can I deposit on Polymarket using ABA Bank, Wing or KHQR?
Not directly. You can use a Cambodian bank card or mobile payment methods such as ABA Pay or Wing (or KHR P2P) to fund an exchange like Bybit or Binance, buy USDC, then transfer it to Polymarket. Polymarket itself does not accept direct local rail deposits.