The governments of Portugal and Hungary ordered the platform to be blocked Polymarketaccused of operating betting without a license and violating local gambling laws. The measure comes after the company gained prominence for allowing bets on elections and other political events.
In Portugal, the Gaming Regulation and Inspection Service (SRIJ) ordered the site to suspend its activities in the country and blocked access from Portuguese IP addresses. The body classified the service as an illicit gambling activity, as Portuguese legislation prohibits betting related to electoral processes.
According to the SRIJ, the blockade was motivated by an atypical movement in values before the Portuguese presidential election, held on January 18th. According to the organization, more than €4 million had been bet in the hours before the release of the official results, raising suspicions about the use of privileged information.
“The site is not authorized to offer betting in Portugal and, according to national legislation, betting on political events or happenings, whether national or international, is not permitted,” Portuguese regulators told local broadcaster Rádio Renascença.
In Hungary, the regulatory authority also ordered the suspension of access to Polymarket, alleging that the company promoted betting without authorization. Users have reported that the site displays restriction messages when accessed from local addresses, while the government conducts an investigation into the platform’s operations in the country.
Polymarket is a blockchain-based prediction market that allows users to trade contracts on the outcomes of real-world events — such as elections, court rulings, economic indicators and sports competitions. Despite stating that its objective is to “collect information in a decentralized way”, regulatory bodies in different countries consider the activity to be an unregulated form of betting.
Fonte: Gaming365 – Brasil
