What has happened to Smarkets?

I’ve heard from multiple sources that Smarkets have turned more difficult to use, requiring a ton of information from their customers (KYC) and even limiting people! This seems strange since they are an exchange and make money through commission without taking any own risk.

Perhaps this is the reason?

Anyone else have a better theory?

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This would explain A LOT. A few days ago my account was suspended due to failing to comply with their KYC checks (my account had already been through verification a year or so ago). After depositing £7k pounds a couple of weeks back they asked me to send in a ton of documents including 12 months of poker and betting income proof, utility bills and pay slips (which i do not have). This fine seems like a clear explanation for their behaviou!

As for limiting, that is very strange however, is there a chance that they take a reasonable amount of the action on the site to provide liquidity? I have heard that their traders/market makers take on a decent amount of the turnover (when they believe the line is negative ev I assume), therefore it would somewhat make sense for them to limit sharp action in those cases?