The Romanian gambling regulator bans Polymarket for operating without a license, joining a global wave of crackdowns on blockchain-based betting platforms.
Romania’s National Office for Gambling (ONJN) has officially blacklisted Polymarket, the world’s leading crypto-based prediction market, labeling it an unlicensed gambling operator. The move follows a surge of over $600 million in wagers placed during Romania’s recent presidential and local elections — one of the largest event-driven crypto betting spikes in the region.
Regulators Target Unlicensed Crypto Gambling
According to the ONJN, Polymarket’s users were placing counterpart bets — wagering directly against one another on political outcomes — a model that clearly falls under Romania’s gambling laws. The authority emphasized that the issue is not about blockchain technology but legal compliance.
The regulator cited Polymarket’s lack of fiscal reporting, player protection tools, and anti-money laundering (AML) oversight as primary violations. Local internet service providers are now required to block public access to the platform.
Global Crackdown Expands
Romania’s move mirrors similar actions worldwide. Authorities in the U.S., France, Belgium, Poland, Singapore, and Thailand have already restricted Polymarket for offering unlicensed gambling services. In 2022, the U.S. Commodity Futures Trading Commission (CFTC) fined the platform for operating unregistered derivatives markets, forcing it to restrict American users.
Despite these hurdles, Polymarket has continued to expand globally, recently securing a $2 billion investment from Intercontinental Exchange (ICE) — the parent company of the New York Stock Exchange — signaling investor confidence in blockchain-based prediction models.
Polymarket’s Next Move: U.S. Reentry
Reports indicate that Polymarket is preparing to relaunch in the United States with a focus on sports-related prediction markets. Insiders say the firm could reopen limited trading for U.S. users by late November, following a recent no-action letter from the CFTC related to one of its newly acquired crypto derivatives exchanges.
As regulators tighten control over crypto-based betting, Polymarket’s case underscores the growing tension between financial innovation and gambling compliance laws. While the platform’s technology continues to attract global interest, its legal status remains under scrutiny, particularly in jurisdictions prioritizing consumer protection and AML enforcement.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.