Romania Bans Polymarket as Unlicensed Election Betting Volume Exceeds $600 Million
Following an unprecedented surge in wagers during national elections, Romanian regulators have blocked the crypto-based prediction market Polymarket, escalating a continent-wide crackdown on the platform.
Furedata - Romania's National Office for Gambling (ONJN) has officially declared the prediction market Polymarket an illegal operator. The regulator mandated that internet service providers block access to the platform, citing its failure to obtain a license for its activities within the country's jurisdiction.
The decisive action was prompted by a dramatic spike in betting tied to Romania’s recent elections. The ONJN reported that trading volumes surpassed $600 million for the presidential race alone, indicating a significant level of unregulated wagering taking place outside governmental supervision.
Authorities firmly classify Polymarket’s model as "counterpart betting," where users wager against one another on future outcomes. This structure, the ONJN stated, is unequivocally subject to gambling laws, regardless of its reliance on blockchain technology or cryptocurrency for transactions.
The ONJN justified the ban by highlighting numerous violations. These included the absence of critical player protection measures, a lack of fiscal reporting, and a failure to implement required Anti-Money Laundering (AML) protocols, which jeopardizes the integrity of the state's legal framework.
This enforcement places Romania alongside other European Union members in a growing movement against the platform. Information from Cointelegraph (November 2, 2025), confirms that Belgium, France, and Poland have also implemented restrictions, reflecting a unified EU stance that such prediction markets constitute gambling operations requiring licensure.
The platform's regulatory challenges are not new. In 2022, the U.S. Commodity Futures Trading Commission penalized Polymarket for operating unregistered markets. Despite this, the company is reportedly planning a regulated relaunch in the United States, initially focused on sports-related predictions.
Polymarket’s European troubles persist, as it remains unlicensed across the EU and European Economic Area. The CEO's stated goal of operating within regulated frameworks, supported by a recent acquisition, has yet to materialize on the continent amid intensifying scrutiny from multiple authorities.