Romania has become the latest country to move against Polymarket, blocking access to the popular blockchain-based prediction platform after what regulators described as an explosion of crypto betting tied to the nation’s elections.
Authorities estimate that wagers placed through the site exceeded $600 million, triggering the intervention of the National Office for Gambling (ONJN).
According to the agency, Polymarket’s system – where users stake funds against each other on political and real-world outcomes – falls squarely under gambling law, regardless of whether bets are made in crypto or local currency. ONJN chief Vlad-Cristian Soare emphasized that the case “is not about technology but legality,” stressing that all betting platforms must hold a national license to operate.
The decision followed concerns over missing tax reporting, weak anti–money laundering oversight, and the absence of consumer safeguards. Internet providers in Romania have been ordered to block the platform entirely.
Polymarket, which describes itself as an “event trading” hub rather than a betting site, has faced similar resistance elsewhere. U.S. regulators fined it in 2022 for running unregistered derivatives markets, while France, Belgium, Poland, Singapore, and Thailand have imposed their own restrictions.
Despite ongoing scrutiny, the platform continues to draw major backing, including a recent $2 billion investment from Intercontinental Exchange, the parent company of the NYSE. Polymarket reportedly plans to return to the U.S. market soon, focusing first on sports-related wagers after receiving a favorable regulatory signal from the CFTC.
Romania’s move underscores a broader trend: as crypto-based prediction markets grow, regulators worldwide are becoming less tolerant of operations that blur the line between speculation and unlicensed gambling.
