Romania blacklists Polymarket for illegal crypto betting amid $600M election wagers

Romania's National Office for Gambling (ONJN) has blacklisted the leading prediction market Polymarket, classifying it as an unlicensed gambling platform operating outside state oversight. This action followed a reported surge in crypto-based betting during Romania’s presidential and local elections, where Polymarket's trading volume allegedly exceeded $600 million. ONJN President Vlad-Cristian Soare emphasized that the ban targets illegal gambling activity, stating that wagers made in cryptocurrency still qualify as gambling under the law and require licensing. The regulator cited violations including a lack of fiscal reporting, player protection, and Anti-Money Laundering (AML) oversight. Romanian internet providers are now mandated to block access to the site. This restriction mirrors similar crackdowns Polymarket has faced in jurisdictions like the US, France, Belgium, Poland, Singapore, and Thailand, despite the platform recently securing a $2 billion investment from Intercontinental Exchange.

(Source：Cointelegraph)