Polymarket is fully accessible in Chile with no restrictions. Chile is not on the platform’s blocked countries list, and there are no ISP-level blocks or regulatory orders targeting the platform. Combined with Chile’s strong crypto regulation, the highest internet penetration in Latin America (94.5%), and a mature local exchange ecosystem, Chilean users have one of the smoothest onboarding paths in the region.
Current Status: Fully Accessible
Chile is not on Polymarket’s restricted countries list. The platform does not block Chilean IP addresses, and there are no close-only restrictions. You can create an account, deposit funds, and trade on all available markets without limitation.
Unlike neighboring Argentina (blocked by the national internet regulator in March 2026) or Colombia (where Coljuegos ordered ISP blocks in 2025), Chile has taken no regulatory action against Polymarket specifically. The platform remains fully accessible from all Chilean ISPs.
With approximately 3.7 million crypto users (nearly 19% of the population) and a well-established exchange infrastructure, Chile is one of the most crypto-literate countries in Latin America — making the deposit flow familiar to many users.
How to Deposit from Chile
Chile does not have an instant payment system like Brazil’s PIX, but bank transfers to local exchanges are reliable and typically processed same-day. The recommended path is CLP bank transfer to a local exchange, then USDC to Polymarket.
Step 1: Buy USDC on a Chilean Exchange
| Exchange | CLP Bank Transfer | KYC Required | Notes |
|---|---|---|---|
| Buda.com | Yes (free) | Yes (Chilean RUT) | Founded in Chile, 600K+ users, direct USDC/CLP pair |
| OrionX | Yes | Yes | Tether-backed since 2025, growing rapidly |
| CryptoMarket | Yes (instant via Cuenta RUT) | Yes | Chilean-founded, strong local bank integration |
| Binance | P2P only (CLP) | Yes | Largest global exchange, P2P and Quick Buy for CLP |
Recommendation: Buda.com is the top choice for Chilean users. It offers free CLP deposits via bank transfer, a direct USDC/CLP trading pair, and is fully licensed under Chile’s Fintech Law. Trading fees range from 0.10% to 0.80% depending on your volume tier, and USDC withdrawals cost around 1.38-2 USDC.
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)
Total time: Under 30 minutes on your first attempt (mostly KYC verification on the exchange). Subsequent deposits take under 10 minutes.
For the full walkthrough, see our How to Deposit on Polymarket guide.
The Regulatory Picture
Chile has one of the most developed regulatory frameworks for crypto in Latin America. Here is how the relevant authorities interact with prediction markets and crypto.
CMF (Financial Market Commission)
- Oversees the Fintech Law (Law 21.521), enacted in January 2023, which regulates all technology-based financial services including crypto exchanges and custodians
- All crypto service providers — exchanges, custody platforms, brokers — were required to register and obtain CMF authorization by February 2025
- The licensing process includes a six-month review covering solvency, governance, cybersecurity, and client-asset segregation
- The CMF has not addressed prediction markets specifically — its focus is on crypto intermediation and custody
BCCh (Central Bank of Chile)
- Issues prudential regulation complementing the Fintech Law
- Published two CBDC reports exploring wholesale-retail interoperability
- Has not specifically addressed prediction markets or platforms like Polymarket
Gambling Law and the Supreme Court
Online gambling is illegal in Chile unless expressly authorized by law. The only authorized entities are Loteria de Concepcion, Polla Chilena de Beneficencia, racetracks, and licensed casinos.
In September 2025, Chile’s Supreme Court ordered ISPs to block access to over 900 unauthorized online gambling websites, ruling that ISPs have a duty to block illegal content. This was a broad action against online casinos and sportsbooks — prediction markets were not specifically named in the ruling.
A comprehensive Online Gambling Regulation Bill is currently moving through the Chilean Senate. If passed, it would create a licensing regime under the Superintendence of Casinos with a 20% tax on licensed operators. The bill stalled in late 2025 but is expected to be revisited in 2026 under the new government.
The key question for Polymarket users: Chilean regulators have not classified prediction markets as gambling, securities, or crypto products. There is no specific regulatory action against Polymarket, and the platform remains unblocked. However, if prediction markets are eventually classified as online gambling, they could fall under the Supreme Court’s ISP-blocking framework.
Tax Considerations
The SII (Servicio de Impuestos Internos) treats crypto gains as taxable income. Here is what Chilean Polymarket users need to know:
| Tax | Rate | Details |
|---|---|---|
| Individual crypto gains | 0-40% | Progressive rates under the Global Complementary Tax |
| SME corporate rate | 12.5% (2025-2027) | Temporarily reduced; returns to 15% in 2028 |
| Reporting | Annual | Form 22, filed every April |
Key points:
- The SII classifies crypto assets as intangible digital assets — not legal tender or foreign currency
- Taxable income = sale price (in CLP on the day of sale) minus purchase cost
- All taxable events must be recorded: date, asset type, CLP amount, cost basis, and fees
- Crypto-to-crypto trades (including buying shares on Polymarket) are taxable events
- You can deduct the cost of acquiring crypto from your gains
- The CMF’s licensing requirements mean Chilean exchanges increasingly report user data to the SII
Keep detailed records of every deposit, trade, and withdrawal. Given the progressive rates up to 40%, active traders should consult a Chilean tax professional familiar with crypto.
Getting Started
If you’re in Chile and want to start trading on Polymarket:
- Sign up for Polymarket — under 2 minutes, no KYC
- Buy USDC on Buda.com via CLP bank transfer
- Deposit on Polymarket — transfer USDC via Polygon
- Place your first trade — start small while learning
- Use limit orders to avoid taker fees — only taker orders pay fees on Polymarket
Related Guides
- All Country Guides — Check availability for every country
- Country Availability Checker — Instant status lookup for 190+ countries
- What Is Polymarket? — Full platform overview
- How to Sign Up for Polymarket — Create your account
- How to Deposit on Polymarket — Full deposit guide
- How to Trade on Polymarket — Trading guide with tips
- Polymarket Fees Explained — Fee breakdown by category (or use the fee calculator)
- Polymarket Review 2026 — Our honest review after 2 years of trading