Romania Prohibits Polymarket, Referencing Gambling Regulations Due to "Event Trading" Allegations
- Romania's ONJN banned Polymarket for operating unlicensed gambling services, citing state monopoly laws and $600M+ in election-related bets. - Regulators classified the platform as a "counterparty betting system," violating player protection, AML rules, and tax obligations. - Belgium, France, and Poland joined enforcement actions, with EU regulators affirming blockchain prediction markets fall under gambling laws. - Despite a $112M CFTC-licensed acquisition in the U.S., Polymarket remains unlicensed in E
Romania's National Office for Gambling (ONJN) has prohibited Polymarket, a blockchain-driven prediction market, from operating in the country due to its lack of a proper license, referencing Romania's exclusive control over gambling, according to
The regulator identified Polymarket as a "counterparty betting system," explaining that users place bets against each other on unpredictable future events, with the platform serving as an intermediary and collecting fees, according to
This action by Romania is in step with wider European efforts to restrict unauthorized prediction markets. Belgium, France, and Poland have already imposed limitations or outright bans on Polymarket, with French regulators launching an investigation after a French participant wagered €30 million on the U.S. presidential election, as reported by iGamingToday. Poland has included the platform in its Illegal Gambling Domains Register, while Belgium's Kansspelcommissie instructed ISPs to block access following repeated breaches of its Gambling Act, according to SBC News. The EU's collective approach highlights that prediction markets, regardless of their blockchain foundation, are subject to gambling laws when users risk money on uncertain results, as iGamingToday also reported.
Polymarket, which recently completed a $112 million purchase of a CFTC-regulated exchange in the United States, has encountered similar regulatory pushback worldwide. The Commodity Futures Trading Commission (CFTC) previously penalized the platform and restricted access for U.S. users, as covered by Next. CEO Shayne Coplan has indicated the company intends to grow "within regulated environments," but it still lacks authorization in all EU and EEA countries, according to SBC News. At present, Romanian residents cannot use the platform, and local internet providers are required to enforce this restriction, as noted in
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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