Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Romania Prohibits Unregulated Prediction Markets, Classifying Them as Gambling

Romania Prohibits Unregulated Prediction Markets, Classifying Them as Gambling

Bitget-RWA2025/11/01 18:50
By:Bitget-RWA

- 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

. This action, made public on October 31, comes after a notable increase in betting during recent national and municipal elections, with wagers exceeding $600 million on the presidential contest and $15 million on Bucharest's mayoral race, as reported by .

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

. The regulator maintained that Polymarket’s approach—allowing users to buy and sell shares tied to the results of events like elections or business announcements—clearly fits within Romania’s gambling regulations. The ONJN further warned that redefining counterparty betting as trading could set a risky precedent, potentially undermining player protections, anti-money laundering measures, and government oversight.

Romania Prohibits Unregulated Prediction Markets, Classifying Them as Gambling image 0

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

. The regulator has directed internet providers to restrict Romanian users’ access to Polymarket "within a reasonable timeframe," according to Yahoo.

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.

---

0

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.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

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

Bitget-RWA2025/11/03 20:14
DeFi's Security Challenges Confront Hong Kong's Efforts to Regulate for International Liquidity

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

Bitget-RWA2025/11/03 20:14
SHIB's Legal Victory vs. Lack of Utility: The Meme Coin's Challenging Journey

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

Bitget-RWA2025/11/03 20:14
Ethereum News Update: Ethereum Constructs the Pathway: Institutions Enter the On-Chain Financial Age

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

Bitget-RWA2025/11/03 20:14
Bitcoin News Update: IREN Redirects $9.7B from Mining to AI Cloud, Supporting Microsoft's Growth