Polymarket is close-only in Lebanon. If you’re a new visitor, you can’t start trading here — new positions cannot be opened. The restriction is set by Polymarket’s own compliance policy for regional and sanctions-related reasons, not by any Lebanese court order. Lebanon has one of the world’s most crypto-heavy populations after its 2019 banking crisis, which makes the country’s prediction-market story especially notable — even though the platform currently keeps Lebanon in close-only status.
Current Status: Close-Only
Polymarket lists Lebanon as close-only: a Lebanese account can close positions it already holds, but it cannot open new ones. For most visitors this means Polymarket is effectively off-limits for starting new trades in Lebanon.
Two things worth separating clearly:
- Regional/sanctions context. Lebanon itself is not on the OFAC block list — the fully blocked jurisdictions are Iran, Syria, Cuba, North Korea and parts of Ukraine. However, Lebanon sits in a sanctions-sensitive region (bordering Syria and Israel), and Polymarket’s compliance team has placed the country in the close-only tier rather than a full block. This is a platform policy decision, not a Lebanese government action.
- No Lebanese regulator order exists. There is no known Lebanese court, regulator, or ISP block targeting Polymarket. If you’re a new Lebanese visitor, the practical result is the same either way — you can’t open a fresh position today.
Existing Lebanese users who already hold positions on Polymarket can still close them rather than being frozen out entirely.
The Legal Landscape
The Central Bank and Crypto
Lebanon’s central bank, Banque du Liban (BDL), has issued guidance prohibiting banks and financial institutions from handling cryptocurrency-related transactions. There is no comprehensive national crypto law — Lebanon has not legalised crypto through a framework, nor explicitly criminalised individual use.
This creates a practical split:
- Individuals trading or holding crypto on global platforms operate in an unregulated grey area and are not prohibited from doing so.
- Banks and licensed financial institutions are effectively barred from offering crypto services, which is one reason most Lebanese users rely on global exchanges and P2P rather than domestic banks.
The Banking Crisis and De-Dollarisation
Lebanon’s financial collapse, which began in 2019, is central to understanding its crypto landscape. With the Lebanese pound losing most of its value and banks imposing informal capital controls that froze many accounts, a large share of the population turned to:
- Cash US dollars — the de facto medium of exchange
- Stablecoins (USDT/USDC) — as a store of value and for remittances
- Self-custody crypto — due to distrust of the banking system
Lebanon ranks among the world’s top 20 countries for crypto transaction volume per capita, and much of the local economy now runs on dollars and stablecoins. For a would-be Polymarket user, this makes USDC a natural on-ramp — the main friction is getting deposits in.
Gambling Law and Prediction Markets
Gambling in Lebanon is legally reserved for the state-linked Casino du Liban, and the casino holds an exclusive franchise. Online gambling is essentially unregulated in practice, though BetArabia (owned by Casino du Liban) has been granted an exclusive online licence to operate sports betting and casino games.
Prediction markets are not addressed in any Lebanese law. Neither the central bank’s crypto guidance nor the gambling framework specifically covers event contracts or prediction platforms. As in most of the region, they fall into an unregulated gap. Polymarket’s close-only status for Lebanon stems from its own compliance policy rather than from any Lebanese classification of prediction markets as gambling.
How to Deposit from Lebanon (for context)
Because Lebanon has no regulated local exchange, buying crypto relies on global platforms and P2P. The instructions below are included for context on how a Lebanese user would fund an account in the broader crypto ecosystem — note that you cannot open new positions on Polymarket from Lebanon today.
Step 1: Buy USDC on a Global Exchange
| Exchange | Access in Lebanon | Local Rail | Notes |
|---|---|---|---|
| Binance | Widely used | P2P, cash, card | Most popular; strong USDT/USDC liquidity |
| OKX | Widely used | P2P, cash | Competitive fees; broad P2P methods |
| Bitget | Available | P2P, cash | Low minimum deposits |
| Bybit | Available | P2P, cash | Fast P2P, many payment options |
Deposit Methods Explained
P2P (peer-to-peer): With restricted bank transfers, P2P trading is the most reliable on-ramp — you buy USDC from a vetted local trader and pay with USD cash (or a local transfer you arrange yourself). This is the recommended method.
USD cash: Given Lebanon’s de facto dollar economy, cash US dollars are widely accepted and often the easiest way to fund a purchase.
Cards: Some exchanges accept international card payments, but fees tend to be higher and processing can be unreliable given regional banking constraints.
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
Lebanon’s tax framework does not currently impose a specific crypto tax regime.
What Applies Today
- No specific crypto tax — there is no dedicated tax on cryptocurrency gains in Lebanon as of 2026.
- No individual capital gains tax on crypto speculation — unlike many countries, Lebanon does not have a clear personal capital gains regime levelled at crypto trading, and in practice retail crypto profits are not taxed.
- No reporting requirement — there is no general obligation to report personal crypto holdings or trades to the Lebanese tax authorities.
What to Keep in Mind
- The framework is largely unspecified and could evolve — Lebanon’s fiscal situation and any future financial-sector reform may change how digital assets are treated.
- If your trading is part of a business or commercial activity (rather than personal speculation), income tax considerations could differ.
- Given the grey area, keep records of transactions and conversion rates, and seek local professional advice before relying on any particular treatment.
Getting Started
Because Polymarket is close-only in Lebanon, new users cannot currently open trades from a Lebanese residency or IP. If that status changes, the standard path would be:
- Sign up for Polymarket — under 2 minutes, no KYC required
- Buy USDC on Binance or OKX via P2P from a local trader
- 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
For now, existing Lebanese users should focus on closing open positions, and new visitors should treat Polymarket as unavailable for new trading from Lebanon.
Related Guides
- All Country Guides — Check availability for every country
- Country Availability Checker — Instant status lookup for 190+ countries
- What Is Polymarket? — Learn about the platform
- How Prediction Markets Work — Understand the mechanics
- How to Sign Up for Polymarket — Create your account in under 2 minutes
- How to Deposit on Polymarket — Fund your account step by step
- How to Trade on Polymarket — Market orders, limit orders, and tips
- Polymarket Fees Explained — Fee breakdown by category (or use the fee calculator)