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Polymarket Blacklisted in Romania for Illegal Crypto Wagering
Key Takeaways
- Romania's gambling office has blocked access to Polymarket by citing illegal operations and the absence of a local license;
- Over $600 million in election-related bets triggered concerns, with authorities classifying Polymarket’s format as unregulated gambling;
- Despite using blockchain and crypto, the platform must follow Romanian gambling laws, which include licensing and user protections.
Romania’s gambling authority has taken steps to block access to Polymarket, a platform used for betting on future events using cryptocurrency.
The National Office for Gambling (ONJN) stated that the site was operating in the country without a license and outside legal supervision.
According to the ONJN, more than $600 million in bets were placed through Polymarket during this period. Officials described the platform’s setup as "counterpart betting", in which people put money on different outcomes of a prediction, such as election results.
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Although the service uses blockchain technology and digital currency, ONJN emphasized that it remains subject to Romania’s gambling laws.
Vlad-Cristian Soare, the president of ONJN, confirmed that the main issue is legality, not the technology involved. He explained that any form of betting, whether using traditional money or digital currencies, requires a license and proper monitoring under Romanian law.
The agency highlighted several problems with Polymarket’s operations. These include a lack of financial reporting, failure to protect users, and no clear anti-money laundering measures.
Despite Polymarket’s branding as a platform for trading opinions on real-world events, regulators said its structure fits the legal definition of gambling, especially since it takes a fee from users' wagers.
As a result, internet service providers in Romania are now required to block the site.
Recently, DraftKings announced that it will use Polymarket’s clearing services. What is it for? Read the full story.