Hungary and Portugal Move to Block Polymarket Access

Hungary's regulatory authority, Szabályozott Tevékenységek Felügyeleti Hatósága, has temporarily blocked access to Polymarket's domain and subdomains, citing the organization of forbidden gambling activities while it conducts a review. Simultaneously, Portugal's Gaming Regulation and Inspection Service (SRIJ) ordered the platform to cease operations, though enforcement appeared ongoing. These actions add to a growing list of European restrictions, as Polymarket is already blocked or restricted in Ukraine, France, Belgium, Poland, Singapore, and Switzerland due to concerns over unlicensed gambling. Polymarket, which allows users to trade contracts on real-world outcomes, faces scrutiny, including recent insider trading concerns following a highly profitable bet on the removal of Venezuela's president. Despite this mounting regulatory pressure, trading volume across prediction markets, including Polymarket's competitor Kalshi, recently hit a record high.

(Source：Cointelegraph)