The ban on Polymarket in Romania follows similar crackdowns in the United States, France, Belgium, Poland, Singapore and Thailand, where regulators have flagged unlicensed gambling operations.
Romania's National Gambling Office (ONJN) has blacklisted leading prediction market Polymarket, calling it an unlicensed gambling platform operating outside state supervision.
The decision comes after what regulators described as a surge in cryptocurrency betting activity during Romania’s presidential and local elections, where Polymarket’s volume reportedly exceeded $600 million, according to a recent statement from the regulator.
ONJN added that the platform's operations constitute “counter-betting,” meaning users bet money with each other on the outcome of future events, a model that is fully compliant with gambling laws, regardless of its blockchain-based format.
ONJN President Vlad-Cristian Soare stressed that the move is “not about technology but about the law.” He said that whether betting with lei or cryptocurrency is considered gambling and must be licensed.
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Romania considers Polymarket's event trading activities to be gambling
The authority cited a number of violations, including a lack of financial reporting, player protection mechanisms and anti-money laundering (AML) oversight.
While Polymarket bills itself as an “event trading” platform, ONJN argues that its structure, with users betting money on uncertain outcomes and the platform taking a commission, meets every legal definition of gambling. Romanian internet service providers will now be required to block access to the site.
The move echoes similar measures taken elsewhere. Polymarket was fined by the US Commodity Futures Trading Commission (CFTC) in 2022 for operating an unregistered Derivative market, forcing the company to block US users.
Regulators in Belgium, France, Poland, Singapore, and Thailand have also restricted access. Despite these challenges, Polymarket has continued to grow and recently received a $2 billion investment from Intercontinental Exchange, the parent company of the New York Stock Exchange.
Polymarket Prepares to Return to the United States
Polymarket is reportedly preparing to resume trading in the US in the coming weeks, focusing on sports-related markets first. According to Bloomberg, the platform aims to reopen limited trading for US users by the end of November.
The move follows the CFTC’s recent no-action letter to a crypto Derivative exchange acquired by Polymarket, paving the way for its relaunch.
Source: Cointelegraph
