Portuguese Regulator Orders Polymarket to Cease Operations in the Country Within 48 Hours

Odaily News According to Portuguese gambling regulator SRIJ, the blockchain-based prediction market Polymarket has been ordered to cease its operations in the country within 48 hours. This follows bets on the platform exceeding 103 million euros (approximately $120 million) on the outcome of the presidential election held on January 18. The regulator stated that Polymarket does not hold a Portuguese gambling license and that Portuguese law prohibits betting on the outcomes of real-world events such as politics, only allowing bets on sports, casino games, and horse racing. Polymarket remains accessible in Portugal for now, but the country's regulator may soon require internet service providers to block it. (CoinDesk)