Romanian Regulator Blacklists Polymarket as 'Gambling That Must Be Licensed'

Romania's National Office for Gambling has placed Polymarket on its blacklist for operating gambling activities without a license in the country. The regulator classified Polymarket as engaging in counterparty betting, where users stake money on future outcomes, a practice that mandates regulation. This decision was influenced by rising bets during local elections, with significant sums wagered on events like the mayoral race in Bucharest. The regulator emphasized that the issue is legal, not technological, stating that allowing a reinterpretation of betting activities as trading could undermine strict regulations on gambling and capital markets. Polymarket has faced scrutiny internationally, including a fine from the CFTC in the U.S. last year, and has been exploring solutions to resume its operations effectively. In response, the regulator noted their commitment to preventing blockchain technology from being misused for illegal betting activities.

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