Polymarket is fully accessible in Turkey — the platform does not geoblock Turkish IP addresses. Turkey has one of the world’s highest crypto adoption rates, driven by persistent lira devaluation and inflation, making the on-ramp process well-established. Here’s what Turkish users need to know.
Current Status: Accessible
Turkey is not on Polymarket’s restricted countries list. The platform is fully accessible from Turkish IP addresses without any restrictions. Turkish users can sign up, deposit, and trade freely.
Turkey’s crypto ecosystem is massive. The country consistently ranks among the top globally for crypto adoption, driven by a depreciating lira and inflation that has pushed millions of Turks into stablecoins as a savings vehicle. A significant share of Binance’s global traffic has historically come from Turkey, and the country has a thriving domestic exchange sector with platforms like BtcTurk and Paribu serving millions of users.
While online gambling is strictly prohibited, Turkey’s gambling enforcement has focused on traditional betting platforms and sports gambling — not crypto-based prediction markets.
The Legal Landscape
Crypto Regulation: Rapidly Maturing
Turkey’s crypto regulatory framework underwent a major overhaul in 2025:
CMB Licensing Regime Since July 2024, all crypto exchanges — legally defined as Crypto Asset Service Providers (CASPs) — must obtain an operating license from the Capital Markets Board (CMB). Two communiqués published in March 2025 detail the requirements:
- Communiqué I (III-35/B.1): Founding and operational principles for CASPs
- Communiqué II (III-35/B.2): Capital adequacy, compliance measures, and operational procedures
- Minimum paid-in capital: 150 million TL for exchanges, 500 million TL for custodians
- By June 30, 2025, existing providers had to apply for operational licenses
- By December 31, 2025, platforms had to sign agreements with custodians and renew customer contracts
Travel Rule (MASAK) Turkey’s crypto Travel Rule was fully implemented as of February 25, 2025, aligning with FATF standards. MASAK (the Financial Crimes Investigation Board) requires VASPs to share customer information for qualifying transactions.
Payment Ban The Central Bank of the Republic of Turkey (CBRT) banned the use of crypto for payments in April 2021. You cannot use crypto to buy goods and services in Turkey. This ban remains in effect and will hold until the CBRT decides how the Digital Lira and private tokens will coexist. This does not affect using crypto for trading or investing — only for point-of-sale payments.
Online Gambling: Strictly Prohibited
Turkey has some of the strictest online gambling laws in the world:
- All online gambling is prohibited except through IDDAA, the state-owned sports betting operator
- The national lottery and horse racing are the only other legal forms of gambling
- President Erdoğan has demanded a complete ban on illegal gambling, prompting sweeping penal code changes taking effect in 2026
- Penalties for illegal gambling operators and participants are being sharply increased
- In February 2026, the Justice Minister announced a nationwide crackdown, with circulars sent to prosecutors in all 81 provinces
Prediction markets are not specifically mentioned in Turkey’s gambling laws or enforcement actions. The 2025-2026 crackdown has focused entirely on illegal sports betting and online casinos — not crypto-based prediction platforms. However, the legal risk exists: if Turkish authorities chose to classify prediction markets as gambling, they would fall under the prohibition.
No Turkish user has been prosecuted for using Polymarket. The enforcement focus is on operators, not individual users.
Stablecoin Regulation
Stablecoins are regulated under the Capital Markets Law as a category of crypto asset. They can be traded on licensed exchanges but cannot be used for payments. USDC and USDT are widely available on Turkish exchanges with direct TRY trading pairs.
How to Deposit from Turkey
Turkey has an excellent domestic exchange ecosystem with direct Turkish lira on-ramps.
Step 1: Buy USDC on a Turkish Exchange
| Exchange | TRY Bank Transfer | Notes |
|---|---|---|
| BtcTurk | Yes | Turkey’s oldest exchange (12+ years), full Turkish interface |
| Paribu | Yes (7 banks) | Nearly 5 million users, Istanbul-based |
| Binance TR | Yes | Turkish arm of the global exchange, wide token selection |
| Icrypex | Yes | CMB-licensed, growing Turkish platform |
| Bitci | Yes | Turkish exchange with sports partnerships |
Recommended flow: BtcTurk is the most established Turkish exchange with 12 years of operation and direct TRY deposits via bank transfer. Paribu is the alternative with integration into seven Turkish banks. Both offer USDC/TRY trading pairs.
Deposit TRY via bank transfer by linking your Turkish bank account (Ziraat Bank, İş Bankası, Garanti BBVA, etc.) to the exchange. All exchanges require KYC verification with a Turkish ID (T.C. Kimlik).
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
Turkey’s crypto tax framework is in flux. Here’s where things stand:
Current Rules (2025)
| Tax Type | Rate | Details |
|---|---|---|
| Short-term gains (held < 1 year) | 15%–35% | Progressive income tax rates, if gains exceed 18,000 TL threshold |
| Long-term gains (held > 1 year) | Exempt | Below the annual threshold; above it, progressive rates apply |
| Mining/staking income | 15%–35% | Taxed as income at fair market value when received |
Proposed 10% Crypto Tax (2026)
Turkey’s ruling AK Party introduced a bill in March 2026 proposing a flat 10% tax on crypto gains:
- 10% withholding on gains from regulated platforms, withheld quarterly
- The President can adjust the rate between 0% and 20%
- A 0.03% transaction tax on service providers facilitating crypto transactions
- Users on unlicensed platforms (like Polymarket) must self-report gains annually
- Implementation: two months after publication in the Official Gazette
Key points for Polymarket users:
- If the 10% flat rate passes, it would simplify crypto taxation significantly
- Since Polymarket is not a CMB-licensed platform, gains would likely need to be self-reported
- Keep detailed records of all deposits, trades, withdrawals, and payouts
- The transaction tax (0.03%) applies to service providers, not directly to users
- Consult a Turkish tax advisor — the framework is actively changing
Getting Started
If you’re in Turkey and want to start trading on Polymarket:
- Sign up for Polymarket — under 2 minutes, no KYC required
- Buy USDC on BtcTurk or Paribu via TRY bank transfer
- 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