Romania bans operations of prediction market Polymarket

JH Kim

Summary

Romanian authorities said they banned Polymarket's local operations for operating without a license.
The National Gambling Office said it put Polymarket on a blacklist and blocked access to the platform.
The move was described as part of a trend in Europe to strengthen regulation of prediction markets and digital assets.

The Romanian government has banned the local operations of prediction market platform Polymarket (Polymarket) for operating without a license.

On the 31st (local time), according to virtual asset (cryptocurrency) specialist media DL News, the Romanian National Gambling Office added Polymarket to a blacklist and blocked access to the platform. Authorities pointed out that Polymarket was operating without an official license from the national gambling regulator.

In Romania, online betting and gaming businesses are classified as a state monopoly business, and operators must obtain permission from the National Gambling Office. Accordingly, Polymarket's provision of services to local users was considered illegal.

An official from the authorities said, "We are strengthening crackdowns on unlicensed online betting platforms," and explained, "Prediction markets using digital assets are also included in the regulatory scope."

This measure is interpreted as part of a trend among European countries to strengthen supervision of prediction markets and decentralized finance (DeFi) services.