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

The Romanian National Office for Gambling has blacklisted Polymarket, labeling it as a gambling platform conducting operations without a required license. ONJN President Vlad-Cristian Soare emphasized that the decision is based on legal definitions rather than technological features. Polymarket enables users to stake money on future events, classifying it as 'counterparty betting,' which requires licensing. Concerns were raised regarding increasing betting volumes associated with Romanian elections, underscoring that allowing such platforms to operate under the guise of trading could undermine regulatory frameworks. The regulator intends to prevent the crypto industry from providing cover for illegal betting activities. Previously, Polymarket faced scrutiny in other regions, including an investigation in France regarding compliance with gambling legislation. This action reflects ongoing challenges faced by decentralized platforms in aligning with global regulatory requirements.

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