Prediction market platform Polymarket is reviewing whether to require know-your-customer checks, reconsidering an operating model that has allowed users to trade under pseudonyms. The move comes as the company faces growing legal risks tied to sanctions violations and illegal gambling allegations, and as more countries block or restrict access. Polymarket has geoblocked users in 35 countries, including Iran, Russia and North Korea. U.S. political and congressional scrutiny has also intensified.

U.S. senators have been barred from trading in prediction markets after the Senate unanimously passed a resolution, S. Res. 708. The measure aims to prevent illegal trading using inside information. Concerns grew after a Polymarket account earned $400,000 betting that Venezuela President Nicolas Maduro would step down by the end of this month. Prosecutors recently arrested an active-duty U.S. Army soldier, Gannon Ken Van Dyke, over allegations he used classified information to place bets.