Regulators in Hungary and Portugal have decided to limit access to Polymarket, a crypto-based prediction platform, as European pressure on the project continues to grow.
Hungary’s financial authority, the Szabályozott Tevékenységek Felügyeleti Hatósága, has temporarily blocked Polymarket’s main website and subdomains.
The regulator said the decision was due to the “forbidden organization of gambling activities”. The restriction will stay in place while officials complete their review.
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Users in Hungary reported being unable to visit the platform with local IP addresses. Instead, they see a warning message from the country’s regulator when trying to access the site.
In Portugal, the Gaming Regulation and Inspection Service (SRIJ) has also ordered Polymarket to stop operating in the country.
However, according to local outlet Rádio Renascença, the platform remained accessible on January 20, which suggests that enforcement is still being implemented.
Portuguese authorities stated that Polymarket’s operations are illegal because the company does not hold the required license. They also pointed out that political betting is banned nationwide.
The regulator’s report mentioned wagers totaling around 4 million euros ($4.6 million) on presidential elections shortly before results were released.
Polymarket has already faced similar restrictions in other countries, including France, Belgium, Poland, Singapore, and Switzerland.
Ukraine’s National Commission for the Regulation of Electronic Communications (NCEC) recently decided to block access to Polymarket. What did the agency say? Read the full story.
