Ukraine banned Polymarket and there’s no legal way for it to come back

Ukraine has blocked access to the Web3 prediction market Polymarket and nearly 200 other gambling-related sites because the country's legal framework does not recognize prediction markets.

Dmitry Nikolaievskyi, Chief Legal Officer at the Project Office for the Development of Ukraine's Digital Economy, confirmed that under current laws, platforms using cryptocurrency to bet on outcomes are considered unlicensed gambling operators. He stated there is currently no legal way for these markets to operate until the delayed "On Virtual Assets" law passes, which would allow companies to operate legally using crypto.

The ban was initiated by the National Commission for State Regulation of Electronic Communications (NKEK) following a recommendation from the state gambling regulator, PlayCity, citing Polymarket's lack of a license and the presence of "war-related" bets. While Nikolaievskyi suggested war bets might have accelerated the decision, he noted the ban targets platforms, not users who might bypass blocks using VPNs. However, he stressed that revising gambling definitions is unlikely during wartime, leaving the situation at a legal deadlock.

(Source：CoinDesk)