Portuguese regulators have ordered the prediction market Polymarket to cease operations in the country.
PANews, January 20 — 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, after bets on the outcome of the January 18 presidential election on the platform exceeded 103 million euros (approximately $120 million).
The regulator pointed out that Polymarket does not hold a Portuguese gambling license, and that the country's laws prohibit betting on the outcomes of real-world events such as politics, only allowing bets on sports, casino games, and horse racing. Currently, Polymarket remains accessible in Portugal, but the country's regulator may soon require internet service providers to block it.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
An 1-Year Absent Whale Pledges 8,208 ETH into Kiln Finance
Robinhood ETF closed down 16% on its first day of listing on the NYSE, raising less than targeted
China's central bank increases gold holdings for the 16th consecutive month
