Polymarket is accessible in Vietnam — the platform does not geoblock Vietnamese IP addresses. Vietnam ranks fourth globally in crypto adoption according to Chainalysis, with an estimated 17-20 million Vietnamese owning crypto and over $200 billion in transaction volume in the year through June 2025. Here’s what Vietnamese users need to know.
Current Status: Accessible
Vietnam is not on Polymarket’s restricted countries list. The platform is fully accessible from Vietnamese IP addresses without any restrictions. Vietnamese users can sign up, deposit, and trade freely.
However, the regulatory landscape is shifting fast. Vietnam passed landmark crypto legislation in 2025, launched a pilot licensing framework in January 2026, and is actively moving toward a domestic-only regulated crypto market. Foreign platforms that do not obtain Vietnamese licenses may face restrictions in the future — though no timeline has been set for enforcement.
For now, Polymarket remains accessible. The window may narrow as Vietnam’s regulatory framework matures.
The Legal Landscape
Crypto Regulation: From Grey Zone to Regulated Market
Vietnam’s crypto regulation has undergone the most dramatic transformation of any country in Southeast Asia:
Law on Digital Technology Industry (June 2025) Vietnam’s National Assembly passed this landmark law on June 14, 2025, effective January 1, 2026. Key provisions:
- Legally recognized digital assets as a category of property under the Civil Code — a first for Southeast Asia
- Created a legal framework for virtual assets and crypto assets
- Established the Ministry of Finance (MOF) as the lead regulator, coordinating with the State Securities Commission (SSC), the State Bank of Vietnam (SBV), and the Ministry of Public Security (MPS)
Pilot Licensing Framework (Decision 96, January 2026) The Ministry of Finance launched a pilot regulated crypto market under Decision No. 96/QD-BTC:
- Only Vietnamese-incorporated companies (limited liability or joint stock) can apply for exchange licenses
- Minimum paid-up charter capital: VND 10,000 billion (approximately USD 400 million)
- Foreign exchanges must partner with local entities — they cannot operate independently
- Foreign ownership capped at 49%
- All crypto trading and settlement must be conducted in Vietnamese dong (VND)
- Five companies were cleared for the initial licensing round, including affiliates of major banks
Resolution 05/2025: Five-Year Sandbox The Government enacted a five-year pilot program (2025-2030) for the issuance, trading, and supervision of crypto assets — creating a controlled environment for the market to develop.
Offshore Platform Restrictions As of March 2026, Vietnam is actively pushing to restrict access to unlicensed foreign exchanges. Regulators are considering policies that could block platforms like Binance from operating in Vietnam without a local license. This trend could eventually affect Polymarket’s accessibility, though prediction markets have not been specifically mentioned.
Gambling Laws
Vietnam’s gambling laws are strict:
- Most forms of online gambling are prohibited
- A limited pilot program has allowed Vietnamese citizens to gamble at select domestic casinos since 2017
- Online gambling enforcement has focused on sports betting operations
- Prediction markets are not specifically addressed in Vietnamese gambling law
- There has been no regulatory action against prediction market platforms or their users
Crypto Mining
Crypto mining is illegal in Vietnam as of 2025, due to concerns over energy consumption and fraud. This prohibition is separate from crypto trading and ownership, which are legal.
How to Deposit from Vietnam
Vietnam’s crypto ecosystem is dominated by international exchanges that support VND deposits through various local payment methods.
Step 1: Buy USDC on an Exchange
| Exchange | VND Deposit Methods | Notes |
|---|---|---|
| Bybit | Bank transfer, VietQR, credit/debit card, MoMo | 74M+ users globally, best overall for VN users |
| OKX | Credit/debit card, P2P (VND) | Strong mobile app, wide token selection |
| Binance | Credit/debit card, P2P (VND) | Largest global exchange, may face future restrictions |
| MEXC | P2P (VND), credit/debit card | Low fees, extensive altcoin selection |
| Gate.io | P2P (VND), credit/debit card | Wide token selection |
Recommended flow: Bybit is the top choice for Vietnamese users, supporting VND deposits via bank transfer, VietQR, and MoMo (Vietnam’s leading mobile wallet). The platform has a strong Vietnamese user base and offers USDC trading pairs. OKX is the alternative with P2P VND trading for those who prefer peer-to-peer on-ramps.
P2P trading is extremely popular in Vietnam. Most exchanges offer P2P marketplaces where you can buy USDC directly from other users using bank transfers through Vietcombank, Techcombank, MB Bank, and other major Vietnamese banks.
All exchanges require KYC verification with a Vietnamese ID (CCCD/CMND) before depositing VND.
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
Vietnam’s crypto tax framework is brand new and evolving:
Current and Upcoming Rules
| Tax Type | Rate | Effective Date | Details |
|---|---|---|---|
| Transaction tax | 0.1% | July 1, 2026 | Applied to total transaction value (turnover), not just profits |
| VAT | Exempt | January 1, 2026 | Crypto transfers are not subject to VAT under draft Circular |
| Personal income tax | 0.1% of turnover | July 1, 2026 | Same mechanism as securities transactions |
Key points for Polymarket users:
- Starting July 1, 2026, a 0.1% personal income tax will be applied to every digital asset transaction — based on total transaction value, not net profit
- This mirrors Vietnam’s existing securities transaction tax model
- The tax is low but applies to every transaction, meaning frequent traders pay more in aggregate
- Before July 2026, crypto transactions have been effectively tax-free in Vietnam due to the lack of a formal framework
- Vietnam is drafting a detailed Circular to prescribe the exact rules — implementation details may change
- Crypto transfers are not subject to VAT under the current draft
Example: If you sell a Polymarket position worth $1,000, the tax would be $1 (0.1% of $1,000), regardless of whether you made or lost money on the trade.
Historical Context
Vietnam was historically one of the few countries with no crypto tax framework whatsoever. The 2025-2026 legislation represents the country’s first attempt at bringing crypto into the tax system. The 0.1% turnover-based approach is simple and low — designed to be easy to implement rather than maximize revenue.
Getting Started
If you’re in Vietnam and want to start trading on Polymarket:
- Sign up for Polymarket — under 2 minutes, no KYC required
- Buy USDC on Bybit via VND bank transfer or MoMo
- 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