We investigate coherent transport through open lateral quantum dots using recursive Green's function technique, incorporating exchange-correlation effects within the Density Functional Theory (DFT) in the local spin-density approximation (LSDA). At low electron densities the current is spinpolarized and electron density in the dot shows a strong spin polarization. As the electron density increases the spin polarization in the dot gradually diminishes. These findings are consistent with available experimental observations. Results of our DFT-based modeling indicate that utilization of the simplified approaches that use phenomenological parameters and/or model Hamiltonians might not be always reliable for theoretical predictions as well as interpretations of the experiments.Introduction. A detailed understanding of spin-related phenomena in quantum systems is necessary for future spintronics applications such as spin filtering devices[1], spin-FETs [2], nonvolatile computer memories [3], etc. Semiconductor quantum wires, dots and antidots defined in a two-dimensional electron gas (2DEG) represent promising systems for the implementation of quantum spintronic devices [4]. In this context, a topical question is whether the spin degeneracy in these structures can be lifted.Experimental studies indicate the existence of a spontaneous spin polarization at low densities in the 2DEG [5]. The spontaneous spin polarization was suggested as the origin of "0.7-structure" in the conductance of a quantum points contact (QPC) [6]. Concerning spin polarization in open quantum dots, i.e., dots with strong coupling to leads as opposed to the Coulomb blockade regime, the existing experiments show conflicting findings. A statistical analysis of conductance fluctuations [7] indicated a spin degeneracy at low magnetic fields. The similar conclusion follows from the results of Folk et al. [8] who experimentally demonstrated the operation of an open dot as a spin filter. In contrast, low-field magnetoconductance of small dots [9] showed a pronounced peak splitting that was taken as a signature of the spin polarization. In contrast to QPCs, where theoretical investigations of the spin polarization have been a subject of lively discussions during recent years [10,11,12,13,14,15], theoretical description of spin-polarization effects in open quantum dots has received far less attention. The main purpose of this paper is to provide such the description.Modelling transport through quantum dots can be done from conceptually different standpoints. For example, charging and coupling constants might be taken as phenomenological parameters of the theory within a model Hamiltonian [9,16]. It is however not always evident whether such a simplified description is sufficient to capture the essential physics, and it is not always straightforward to relate quantitatively the above parameters to the physical processes they represent in the real system. Another common approach is to approximate the open system at hand (which is described