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The Portuguese regulatory authority has ordered prediction market Polymarket to cease operations in the country.
GateNews
PANews January 20 News, according to CoinDesk, the Portuguese gambling regulator SRIJ has ordered the blockchain-based prediction market Polymarket to cease operations in the country within 48 hours. Previously, the platform’s bets on the results of the January 18 presidential election exceeded €103 million (about $120 million). The regulator pointed out that Polymarket does not hold a Portuguese gambling license, and the country’s laws prohibit betting on the outcomes of real-world events such as politics, only allowing betting on sports, casino games, and horse racing. Currently, Polymarket is still accessible in Portugal, but the country’s regulatory authorities may soon require internet service providers to block access.
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