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Romania’s National Office for Gambling (ONJN) has officially blacklisted Polymarket, a prominent prediction market that allows users to bet on future events, citing its operation as an unlicensed gambling platform. The decision comes amid heightened concerns over crypto-based betting during recent election cycles, where Polymarket reportedly saw trading volumes surpassing $600 million.
ONJN asserts that Polymarket’s “counterpart betting” model – where users wager against each other on future outcomes – falls squarely within the scope of Romanian gambling regulations. The regulator clarified that regardless of whether bets are placed using fiat currency or cryptocurrencies, they are legal gambling activities that require appropriate licensing. ONJN President Vlad-Cristian Soare emphasised that the issue is about compliance with the law, not technology, stating, “It’s about the law, not the platform’s blockchain foundation.”
Although Polymarket promotes itself as an “event trading” platform, ONJN concluded that its operational structure – where users place bets on the outcomes of unpredictable events and the platform earns commissions – meets the legal criteria of gambling. Consequently, Romanian internet providers are now mandated to block access to the platform.
The post Romania Bans Polymarket Over Illegal Cryptocurrency Betting Activities appeared first on European Gaming Industry News.
