Romania Blocks Polymarket Over Unlicensed Gambling Operations

TLDR

• Romania’s gambling regulator has blocked Polymarket for operating without a license after the platform handled over $600 million in election-related bets
• The National Office for Gambling says Polymarket’s prediction markets count as gambling under Romanian law, whether using crypto or traditional currency
• Romanian authorities cited missing player protections, tax reporting, and anti-money laundering controls as key violations
• Polymarket faces similar restrictions in the US, France, Belgium, Poland, Singapore, and Thailand for unlicensed operations
• The platform is preparing to return to US markets by late November with limited sports betting after receiving regulatory clearance

Romania has added Polymarket to its blacklist of prohibited gambling sites. The country’s National Office for Gambling made the decision after reviewing the platform’s operations during recent elections.

The regulator says Polymarket processed more than $600 million in bets on Romania’s presidential and local elections. Users placed wagers on election outcomes using cryptocurrency through the platform.

What Romania Objects To

Romanian officials say Polymarket operates as an unlicensed gambling service. The platform allows users to bet against each other on future events, which falls under the country’s gambling laws.

Vlad-Cristian Soare, president of the National Office for Gambling, said the issue is about legal compliance, not technology. He stated that bets placed in crypto count the same as bets made in Romanian lei under current laws.

The regulator found several problems with Polymarket’s operations. The platform does not file tax reports in Romania. It lacks required player protection systems. The service also does not follow anti-money laundering rules that licensed operators must meet.

While Polymarket calls itself an “event trading” platform, Romanian authorities see it differently. They point to its structure where users bet money on uncertain outcomes and the platform takes a commission. This meets the legal definition of gambling in Romania.

Internet service providers in Romania must now block access to Polymarket. The ban prevents Romanian users from reaching the site through local networks.

Growing List of Restrictions

Romania joins several other countries that have restricted Polymarket. The US Commodity Futures Trading Commission fined the platform in 2022 for running unregistered derivatives markets. That action forced Polymarket to block all American users.

France, Belgium, Poland, Singapore, and Thailand have also limited access to the site. Each country cited similar concerns about unlicensed gambling operations.

The platform continues to operate in countries where it faces no restrictions. Polymarket recently received a $2 billion investment from Intercontinental Exchange, which owns the New York Stock Exchange.

Polymarket is working to return to US markets. Reports say the platform plans to resume limited trading in America before the end of November. The focus will be on sports-related markets initially.

The CFTC recently issued a no-action letter to a crypto derivatives exchange that Polymarket acquired. This letter clears the path for the platform to offer some services to US users again.

The Romanian ban affects users who placed bets on political races through the platform. Election betting has become one of Polymarket’s most popular categories, drawing high trading volumes during major votes.

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