Dutch Users Continue to Access Crypto Prediction Markets After Polymarket Ban

Polymarket lets users trade cryptocurrency-based contracts tied to outcomes in politics, sports, economics and weather, with winning positions paying out after an event is resolved. South Korea generally prohibits gambling under its Criminal Act, which allows fines of up to 10 million won ($7,000). Regulators said the platform’s winner-take-all structure encourages speculation, while its non-custodial model and smart-contract settlement do not place it beyond Korean law.

The Korea Media and Communications Commission decided on Aug. 18, 2026, to order domestic internet service providers to block Polymarket, following a July 6 hearing at which the company argued it neither handles customer funds nor accepts won payments. The commission said it consulted the Korean National Police Agency, the National Gambling Control Commission and the Korea Sports Promotion Foundation before concluding the service could facilitate illegal gambling. South Korea joins more than 30 jurisdictions restricting access to the platform.

Polymarket, a decentralized prediction market where users wager crypto assets on political, economic and other outcomes, has drawn regulatory scrutiny as authorities debate whether such platforms provide useful forecasting signals or constitute unlicensed gambling. France’s Autorité nationale des jeux, or ANJ, treats the service as an illegal betting platform, while allegations of insider trading and market manipulation have intensified concerns over consumer protection and market integrity.

The ANJ ordered internet service providers across France to block access to Polymarket’s domains, extending restrictions even after the platform stopped offering financial trading to French users. The site still recorded about 200,000 visits from France in June, according to reports. The regulator said unlawful promotion could carry fines of as much as 100,000 euros. Polymarket said it was surprised that access was blocked even as an information source and plans to challenge the nationwide measure through legal channels.

Decentralized prediction market Polymarket has gained prominence in recent years by allowing users to wager on global political and economic events, becoming a popular fintech and blockchain application. Because such platforms involve monetary bets, however, they occupy a regulatory gray area between forecasting and gambling in many countries. As their influence grows, European governments are tightening oversight of decentralized platforms in an effort to curb unauthorized online gambling.

The Czech Finance Ministry recently formally added Polymarket to its blacklist of unauthorized online gambling websites. Under the Czech Gambling Act, local internet service providers must block access to the site within 15 days. The ban marks the Czech Republic's first major crackdown on a crypto prediction market and signals that scrutiny of such decentralized gambling platforms is continuing to intensify across the European Union.

Polymarket is a prediction-market platform where users trade on the outcomes of political, economic and other events, with contract prices reflecting market-implied probabilities. The Korea Communications Standards Commission is considering restricting the service over concerns that it may constitute illegal gambling and encourage highly speculative activity. The case also raises questions about where prediction markets fall within the boundaries of financial-trading and gambling regulation.

As of July 20, 2026, the commission said it would hear Polymarket's representations before deciding whether to take corrective action. It has not announced a decision date, fines or any amount involved. Polymarket already faces varying degrees of access restrictions and regulatory scrutiny in countries including the United States, Britain and France.

Prediction markets allow users to trade contracts on the outcomes of elections, sporting contests and economic events, with prices reflecting the probability of each outcome. Spain classifies such trading as gambling and requires operators to obtain a dedicated license. Polymarket and Kalshi recorded about $9.7 billion in combined trading volume over the past 30 days, accounting for nearly 88% of major prediction markets and raising concerns about protections for minors and self-excluded users.

The Directorate General for the Regulation of Gambling, or DGOJ, under Spain’s Ministry of Social Rights, Consumer Affairs and the 2030 Agenda, opened an investigation on May 26, 2026, and blocked both sites as a precautionary measure. The DGOJ said the companies lacked administrative authorization, identity-verification measures and controls for minors and self-excluded users. The process is expected to take three to four months. Polymarket and Kalshi recorded about $5.9 billion and $3.8 billion, respectively, in trading volume over the past 30 days.

Polymarket uses crypto assets to trade contracts tied to event outcomes. Supporters view it as a crowd-forecasting tool, while critics argue that it is essentially a form of gambling. Indonesia bans all gambling, and President Prabowo Subianto’s term is scheduled to run until October 2029. Indonesia’s classification of the platform also highlights its divergence from the U.S. Commodity Futures Trading Commission, which allows regulated event-contract markets to operate.

On May 21, 2026, Polymarket launched markets on whether Prabowo would leave office by May 31, June 30 or the end of the year. Trading volume exceeded $46,000, while the probabilities for the three outcomes reached 1%, 2% and 18%, respectively, at one point. Indonesia’s Ministry of Communication and Digital Affairs formally blocked the website on May 22, saying wagers involving money on uncertain events violated the online gambling ban. It was also investigating social media accounts linked to the platform.

Kalshi and Polymarket allow users to wager on political, military and sporting outcomes through event contracts. Such products are regulated by the U.S. Commodity Futures Trading Commission, but have raised fairness concerns because people with access to confidential information could profit from them. In January 2026, a trader made more than $409,000 by betting on political developments in Venezuela.

On March 23, 2026, Kalshi barred candidates from betting on their own elections and prohibited sports insiders from trading related contracts. Polymarket also banned people with confidential information or the ability to influence outcomes from placing bets. On May 22, the U.S. House Committee on Oversight and Government Reform launched an investigation, saying more than 80 Polymarket users were linked to suspicious trades, and ordered both platforms to provide KYC and monitoring data by June 5.

India's Promotion and Regulation of Online Gaming Act, 2025 imposes a blanket ban on prediction markets classified as online money games, in which users stake real money and profit based on event outcomes. The legislation was passed and received presidential assent in August 2025, with related rules taking effect on May 1, 2026. Kalshi must comply with the Indian ban even though it is regulated by the U.S. Commodity Futures Trading Commission.

India's Ministry of Electronics and Information Technology, or MeitY, asked VPN providers and intermediaries on April 9 to prevent users from circumventing restrictions to access platforms including Polymarket. Officials confirmed on May 21 that a blocking order had been issued, and Indian users could no longer connect to the platform the following day. MeitY also said it could issue a similar order against Kalshi as early as May 22, requiring internet service providers to cut off access at the network level.

Polymarket offers blockchain-based binary event contracts. The CFTC found that it had operated an unregistered derivatives market and, on January 3, 2022, imposed a $1.4 million penalty and ordered it to wind down noncompliant markets. Its main international platform has blocked US users since then. Lifting the ban would allow Polymarket to challenge regulated rival Kalshi in the United States with its full product offering.

Bloomberg reported on April 28 that Polymarket was negotiating with CFTC Chairman Michael Selig to amend the 2022 settlement terms and allow US traders back onto its international platform. The company has spent $112 million to acquire licensed exchange QCEX and launched the regulated Polymarket US in late 2025. It also filed a self-certification with the CFTC for sports parlay contracts on May 20, but reopening the main platform to US users still requires regulatory approval.

Polymarket is a decentralized prediction market where traders use crypto assets to wager on the probability of events. Its nuclear contracts allowed them to bet on whether a nuclear explosion would occur by a specified deadline. While such markets can aggregate risk expectations, they have raised ethical and regulatory concerns because people with access to military intelligence could profit and mass casualties could be commodified. The U.S. Commodity Futures Trading Commission is also tightening rules for event contracts.

Amid the conflict involving Iran and growing concerns about insider trading on wars, Polymarket removed its long-term nuclear detonation markets on March 4, 2026. A 2023 contract at one point implied a 19% probability of a nuclear explosion and drew nearly $700,000 in trading volume, while a contract expiring in June 2025 was once priced at 12% and recorded more than $1.7 million in cumulative volume. On May 10, 2024, the CFTC proposed barring regulated platforms from listing contracts involving war, terrorism or assassination.