Czechia Blocks Polymarket as Unlicensed Gambling
ISPs given 15 days to cut access to the platform.
1Czechia's Block on Polymarket
The Czech Republic has classified crypto-based prediction market Polymarket as unlicensed gambling, adding it to the official blocklist. Internet service providers have been given 15 days to cut access. This decision comes just days after Gibraltar launched the world's first dedicated prediction-market regulatory framework.
2Lack of Regulation
The Czech Finance Ministry deemed Polymarket insufficiently supervised and therefore risky. Jan Řehola, Director of the Gambling Regulation Institute, emphasized that unlike legal gambling, prediction markets allow betting on virtually any event without comparable oversight, posing risks to market integrity and player protection.
3Insider Trading Risk
Řehola pointed out that prediction markets' reliance on real-world outcomes creates incentives to influence events or trade on non-public information—the equivalent of insider trading. Polymarket has previously faced scrutiny for trades profiting from geopolitical events.
4Growing Pressure in EU
The Czech decision reflects a broader trend in the EU. Italy recently re-added Polymarket to its blocklist, while the Netherlands rejected the platform's appeal. The EU's ESMA also warned that event contracts meeting financial instrument definitions are already banned under binary-options rules.
5Gibraltar's Alternative Approach
While most EU countries are blocking prediction markets, Gibraltar has introduced a bespoke regulatory framework for the sector. Malta has announced similar plans. This marks a new phase in the race to become a regulated hub for prediction markets.
6European Divide
As prediction-market trading volumes hit record highs—partly driven by the World Cup—two distinct approaches are emerging in Europe. While most countries are blocking these platforms, a few jurisdictions are competing to become regulated hubs, with significant implications for the sector's future.
Original article: Bitcoin News — Çekya, Polymarket'i Lisanssız Kumar Olarak Engelledi