Global Regulators' Growing List of Polymarket Restrictions Intensifies as Portugal Joins Enforcement Wave

Polymarket, the blockchain-based prediction market that allows users to wager on real-world events, continues to face an expanding list of regulatory hurdles worldwide. Portugal has become the latest jurisdiction to take enforcement action, joining a growing roster of countries tightening restrictions on political betting platforms.

Portugal’s SRIJ Orders Polymarket to Cease Operations Following Record Election Betting

Portugal’s gambling regulator, the Serviço de Regulação e Inspeção de Jogos (SRIJ), ordered Polymarket to halt operations in the country within 48 hours following unprecedented betting activity during the nation’s presidential election. According to reports, bets placed on the election outcome exceeded 103 million euros (approximately $120 million), triggering regulatory intervention.

The SRIJ emphasized that Polymarket operates without a valid license in Portugal. Under the country’s 2015 online gambling framework, only sports betting, casino games, and horse racing wagers are permitted. Political event betting remains strictly prohibited, whether involving domestic or international elections. “The website is not authorized to offer betting in Portugal, as national law prohibits betting operations regarding political events,” the regulator stated.

While Polymarket remains technically accessible at present, authorities signaled that internet service providers may soon receive orders to implement access blockades. This approach mirrors enforcement tactics employed by other jurisdictions seeking to curb unauthorized betting platforms.

A Growing List of Jurisdictions Tightening Prediction Market Rules

Polymarket’s regulatory troubles extend far beyond Portugal. The platform now encounters restrictions across more than 30 countries, including Singapore, Russia, Belgium, Italy, and Ukraine. This list continues expanding as regulators worldwide recognize prediction markets as potential gambling venues operating outside established legal frameworks.

The company, founded in 2020, has attempted to navigate this fragmented regulatory environment with varying degrees of success. Alternative prediction markets such as Kalshi, Myriad, and Limitless similarly operate under regulatory scrutiny, though some maintain limited accessibility in certain jurisdictions.

Diverging Global Strategies: From Total Bans to View-Only Access

Different regions have adopted contrasting enforcement philosophies toward prediction markets. Some jurisdictions, including Belgium, have implemented comprehensive blacklists that completely block platform access. Other nations employ softer measures—France, for instance, has restricted local users to “view-only” mode, permitting platform visibility while prohibiting active participation.

Ukraine recently added Polymarket to its enforcement actions as part of a broader online gambling crackdown, signaling that prediction markets face regulatory pressure even in jurisdictions with previously permissive cryptocurrency policies. This divergence in global enforcement strategies reflects deeper questions about how regulators should classify and control prediction market platforms in an increasingly digital economy.

The regulatory list targeting Polymarket demonstrates the challenges facing decentralized and blockchain-based financial platforms as they encounter traditional gambling frameworks. As more jurisdictions add prediction markets to their regulatory list, platforms must navigate an increasingly complex patchwork of restrictions that threaten operational viability in major markets.