Netherlands Bans Polymarket Over ‘Illegal Gambling Services’
The Netherlands has banned Polymarket, a prediction market platform, deeming its services illegal gambling and imposing potential fines.Summary
The Netherlands Gambling Authority (Ksa) has ordered Polymarket to cease operations within the country, citing its services as “illegal gambling” under Dutch law. The company faces fines of up to €420,000 ($462,000) per week for non-compliance. This action reflects the Ksa’s strict regulatory stance and growing global scrutiny of prediction markets, which are increasingly popular but face disputes over whether they constitute gambling or financial instruments. Despite regulatory challenges in multiple countries, Polymarket continues to pursue partnerships, including with Substack and Major League Soccer. The Ksa emphasizes that any platform offering bets not permitted under Dutch law requires a license, and prioritizes consumer protection and systemic integrity.
(Source：Decrypt)