Romania Prohibits Unregulated Prediction Markets, Classifying Them as Gambling
- Romania's ONJN banned unlicensed prediction market Polymarket, classifying its user-driven bets on real-world events as gambling requiring a license. - Regulators warned that treating counterparty betting as "trading" creates legal risks for player protection, AML compliance, and state revenue collection. - The crackdown follows $600M+ in wagers on Romanian elections and joins bans in France, Belgium, and the U.S., where Polymarket faces EU licensing hurdles. - Despite securing a CFTC-licensed exchange a
Romania's National Office for Gambling (ONJN) has added Polymarket, a major global prediction market, to its blacklist for operating in the country without proper authorization. The authority labeled the platform's operations as "counterparty betting," which is a regulated form of gambling that requires a license, referencing its model where users place bets on real-world outcomes, according to
Vlad-Cristian Soare, the head of ONJN, clarified that the prohibition is based on legal grounds rather than technological ones. "It doesn't matter if you use lei or cryptocurrency; if you're betting on a future outcome under counterparty conditions, it constitutes gambling that requires a license," he explained, according to
This enforcement places Romania among several countries taking action against Polymarket. In late 2024, France blocked access to the platform, Belgium deemed it unlawful in February 2025, and the United States required its withdrawal in 2022 after imposing a $1.4 million penalty for unlicensed swap execution, according to Yahoo. Despite these setbacks, Polymarket has attempted to re-enter the U.S. by acquiring a CFTC-approved derivatives exchange and has attracted $2 billion in funding from Intercontinental Exchange, which owns the New York Stock Exchange.
Romania’s decision underscores Polymarket’s swift international growth, especially during major events. For instance, a single market predicting Bucharest’s mayoral outcome saw $16 million in trades, while a presidential election market reached $370 million, as noted by SBC News. ONJN pointed out that such operations "bypass the legal requirements for licensed operators," including tax obligations and player protection measures, as reported by
Polymarket has yet to issue a statement regarding the ban. CEO Shayne Coplan has previously said the company intends to comply with regulatory standards, but its lack of licenses in the EU remains a significant challenge, as Decrypt noted. With four European authorities now officially prohibiting its services, Polymarket faces increasing obstacles as it seeks to expand globally amid complex regulatory environments.
---
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
DeFi's Security Challenges Confront Hong Kong's Efforts to Regulate for International Liquidity
- DeFi protocol Balancer lost $128.6M via a V2 pool exploit, triggering pool pauses and a 4% BAL token drop. - Hong Kong's SFC now allows licensed crypto exchanges to access global liquidity pools, easing ringfenced rules to boost market competitiveness. - Ethereum stablecoins hit $2.82T in October volume, with USDC and USDT dominating as traders seek yields amid market volatility. - Hong Kong's reforms align crypto rules with traditional finance, exempting licensed tokens from trading history requirements

SHIB's Legal Victory vs. Lack of Utility: The Meme Coin's Challenging Journey
- Shiba Inu (SHIB) joins FTSE Grayscale's crypto framework under "Consumer & Culture," aligning with SEC standards for ETP eligibility. - Despite regulatory validation, SHIB faces utility challenges: Shibarium's TVL remains below $1M, and its "meme coin" label deters institutional adoption. - Community resilience shows in record token burns, but analysts warn price targets depend on ecosystem growth, partnerships, and deflationary progress. - Market shifts toward AI/DePIN projects highlight SHIB's uphill b

Ethereum News Update: Ethereum Constructs the Pathway: Institutions Enter the On-Chain Financial Age
- Ethereum Foundation launches "Ethereum for Institutions" portal to accelerate institutional blockchain adoption, offering technical resources and partnerships with BlackRock, Visa, and Coinbase. - Platform highlights privacy tools (ZK proofs, FHE) and 75% RWA tokenization dominance, enabling compliant applications and 24/7 transparent settlements for institutions. - Portal emphasizes Ethereum's staking ecosystem ($50B secured on Layer-2s) and 67% DeFi TVL share, positioning it as the settlement layer for

Bitcoin News Update: IREN Redirects $9.7B from Mining to AI Cloud, Supporting Microsoft's Growth
- Microsoft and IREN signed a $9.7B multi-year deal to deploy NVIDIA GB300 GPUs at Texas facilities, accelerating Microsoft's Azure AI expansion amid global GPU shortages. - IREN is transforming its 750MW campus into a liquid-cooled AI data center, securing $5.8B in GPU procurement from Dell to support 200MW of AI workloads by 2026. - The partnership drives IREN's pivot from Bitcoin mining to AI cloud infrastructure, boosting its stock over 500% this year while reflecting broader industry shifts toward ene
