Romania Bans Polymarket: Regulators Assert Control Over Crypto Gambling

Romania has officially blacklisted Polymarket, a leading blockchain-based prediction market platform, for operating unlicensed gambling services during the country's presidential and local elections. The National Office for Gambling (ONJN) announced the ban on Thursday, citing violations of gambling laws that require operators to obtain state licenses, as reported by Cointelegraph. The regulator emphasized that Polymarket's model—allowing users to wager money on uncertain outcomes—constitutes "counterparty betting," a form of gambling that must be regulated, according to DL News.

The decision follows a surge in crypto-based betting on the platform, with trading volume exceeding $600 million during Romania's May elections, as Cointelegraph reported. ONJN President Vlad-Cristian Soare stated the ban is "not about technology, but about the law," noting that bets placed in cryptocurrencies or local currency (leu) still fall under gambling regulations, according to Yahoo Finance. Romanian internet providers are now required to block access to Polymarket, DL News added.

Polymarket's ban in Romania aligns with a global crackdown on the platform. Regulators in the U.S., France, Belgium, Poland, Singapore, and Thailand have also restricted access to Polymarket, citing unlicensed gambling activity, as Cointelegraph noted. In the U.S., the platform was fined $1.4 million by the Commodity Futures Trading Commission (CFTC) in 2022 and subsequently blocked American users, DL News reports. Despite these challenges, Polymarket has secured a $2 billion investment from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, in July 2025, according to the Economic Times.

The investment, revealed in ICE's third-quarter 2025 earnings report, positions Polymarket for a regulated return to the U.S. market. The platform plans to relaunch limited trading for American users by late November 2025, focusing initially on sports betting markets, Cointelegraph reported. This move follows a CFTC no-action letter granted to QCX, a derivatives exchange acquired by Polymarket, which clears the way for compliance in the U.S., according to the Economic Times.

Romania's action underscores the growing regulatory scrutiny of decentralized platforms that leverage blockchain to circumvent traditional oversight. ONJN warned that allowing unlicensed "counterparty betting" could create a precedent for operators to rebrand gambling as trading, evading strict regulations, Yahoo Finance reported. The regulator also highlighted the risk of money laundering and lack of player protections on platforms like Polymarket, DL News noted.

As the prediction market industry evolves, the tension between innovation and regulation remains acute. While Polymarket's backers view it as a legitimate financial tool, regulators worldwide continue to assert that gambling laws apply regardless of the technology used, according to Lookonchain.