How to predict the future on Polymarket, is it legal, and what happens to the money?

The article reviews the Polymarket prediction market platform, which has become dominant around the Israeli elections. It explains how the platform operates, the unresolved legal issue, and the challenge of withdrawing money to a bank account. The article emphasizes the high financial risk and the warning that gambling can be addictive.

The article reviews the Polymarket prediction market platform, which has gained dominance around the Israeli elections. It explains how the platform works: users buy and sell contracts on the outcomes of future events, with the contract price reflecting the estimated probability. The article presents an example of a $100 investment in a contract at 30 cents, which could yield a profit of $233 or a total loss. Regarding legality, it states that the answer is not clear-cut: in Israel there is no dedicated regulation, but the penal code prohibits gambling. In January 2026, a request was filed to certify a class action lawsuit against the operating company, but no decision has been made yet. The main challenge is withdrawing money, which requires transferring to a digital wallet and then to a crypto company, while facing banking questions about the source of the funds. The article emphasizes that this is speculative activity with a high risk of total loss, and that gambling can be addictive.