Every regulated prediction market runs an identity check before it lets you fully use your account. It is the single most common point where new traders get stuck — not because it is hard, but because a blurry photo or a mismatched address can bounce the submission. Knowing what is coming makes it a five-minute job. This sits alongside the broader onboarding walkthrough in how to start trading.
Why platforms verify
Know Your Customer (KYC) checks are a legal requirement for regulated financial platforms, not an optional hurdle. They confirm you are a real person of legal age, that you are trading on your own behalf, and that the platform can meet its anti-money-laundering and sanctions obligations. Practically, verification also protects you: it is what ties your funds to your identity so that withdrawals go back to the right person. A platform that lets you deposit and trade with no identity check at all is a warning sign, not a convenience — something the trust checklist flags directly.
What you will need
The exact list varies, but almost every platform asks for the same core details. Have these ready before you start:
- Personal details — your legal name, date of birth and residential address, matching your official documents exactly.
- A government-issued photo ID — usually a driver’s licence or passport. A clear, uncropped photo with all four corners visible and no glare.
- Sometimes a selfie or liveness check — a quick photo or short video to confirm the ID belongs to you.
- Occasionally proof of address — a recent utility bill or bank statement if your ID does not confirm where you live.
- A tax identifier — some US platforms collect a Social Security number for tax reporting; this is standard for regulated financial accounts.
How the process works
You enter your details, upload the ID, and complete any selfie step; an automated system checks the documents, usually within minutes. Many accounts are approved instantly. If anything cannot be read automatically, the submission goes to manual review, which can take from a few hours to a couple of days. You can normally deposit while verification is pending, but most platforms will hold your first withdrawal until the check clears — which is exactly why it is worth completing on day one rather than the moment you want to cash out.
Avoiding delays
Almost every rejection comes from one of a handful of avoidable mistakes: a name or address that does not match the ID, an expired document, a photo that is cropped, dark or reflective, or a screenshot instead of a genuine capture. Use your real legal name rather than a nickname, photograph the document flat and well-lit, and make sure the address you type matches the one on file. If a submission is declined, the platform will normally tell you why — fix that specific item and resubmit rather than guessing. Once you are verified, funding is the next step; if you are using a crypto platform, the crypto funding guide covers USDC.
Frequently asked questions
Why do prediction markets need my ID?
Regulated platforms are legally required to verify identity to meet age, anti-money-laundering and sanctions rules, and to make sure withdrawals return to the right person. It is the same KYC process used across regulated financial accounts.
How long does verification take?
Often minutes. Automated checks approve many accounts instantly; if a document cannot be read automatically it goes to manual review, which can take a few hours to a couple of days. Completing it when you sign up avoids a hold on your first withdrawal.
Why was my verification rejected?
Usually a fixable detail: a name or address that does not match your ID, an expired or cropped document, glare on the photo, or a screenshot rather than a real capture. The platform normally tells you the reason — correct that item and resubmit.