Czechia Blocks Polymarket as Unlicensed Gambling, Ordering a 15-Day ISP Shutdown
Czechia has added Polymarket to its unauthorized gambling list, ordering ISPs to block access within 15 days.Summary
The Czech Finance Ministry has officially added Polymarket to its List of Unauthorized Internet Games, requiring internet service providers to block access to the platform within 15 days. The decision follows a growing trend among European regulators who view prediction markets as unlicensed gambling due to a lack of oversight and the potential for market manipulation or insider trading.
Jan Řehola, director of the Institute for Gambling Regulation, emphasized that unlike legal gambling, prediction markets lack the necessary mechanisms to protect players and ensure market integrity. Because Polymarket operates as a decentralized exchange using USDC, it falls outside the existing regulatory frameworks used by European authorities to supervise betting.
This move highlights a growing divide in Europe: while countries like Italy and the Netherlands are restricting the platform, jurisdictions like Gibraltar are creating bespoke regulatory frameworks to host the sector. This regulatory tension comes as prediction-market trading volumes reach record highs.
(Source：Bitcoin News)