Key Points
- Polymarket, a global prediction market, has been blacklisted by Romanian authorities for unauthorized gambling activities.
- The platform experienced a significant increase in activity during the Romanian elections in 2024 and the mayoral elections in Bucharest.
Polymarket, known as the largest prediction market worldwide, has been blacklisted by Romanian authorities. The National Gambling Office (ONJN) of Romania included Polymarket in their list of unauthorized gambling sites, as per their official announcement.
Polymarket Blacklisted by ONJN
An official press release by the ONJN on October 30 explained their decision to add Polymarket to the list of unauthorized gambling platforms. This action was taken during a meeting of the authority on October 29.
The decision to blacklist Polymarket was made following a surge in the platform’s activity during the Romanian elections in 2024 and the mayoral elections in Bucharest.
Polymarket’s Activity During Elections
The official press release disclosed that, based on publicly available data on Polymarket, the total volume of transactions during the presidential elections surpassed $600 million. In the Bucharest local elections, the volume had already exceeded $15 million. At the time of the press release, the volume was over $17 million, as per Polymarket’s official data.
The upcoming local elections for a new mayor in Bucharest are scheduled for December 7, 2025. The press release also emphasized that the term “traded volume” represents the cumulative value of transactions between users who bet and exchange financial positions based on future events’ outcomes, not the amount wagered in a single instance.
Rising Unregulated Betting Activity
The official notes underscored that these figures demonstrate a growing level of unregulated betting activity occurring outside any fiscal, technical, or integrity control. This leads to evasion of legal obligations imposed on licensed operators, including those related to player protection, reporting to the National Office for the Prevention and Control of Money Laundering, and paying taxes and contributions to Romania’s budget.
Despite being often described as a prediction market or an event trading platform, Romania categorizes Polymarket as a “counterparty betting platform.” This categorization is due to several factors, including the involvement of a stake, a future random event determining the outcome, the involvement of a counterparty, the platform only intermediating and charging a fee without guaranteeing odds, users being encouraged to take a bet, and the platform organizing bets between participants rather than mediating investments.
The press release highlighted that these factors confirm Polymarket as a “crypto betting site.” The only difference lies in the technological implementation, not in the legal substance of the activity. Polymarket was operating in Romania without a license or supervision, outside the legal framework.
State Monopoly on Gambling in Romania
According to the authority, gambling in Romania is a state monopoly and can only be organized by licensed and authorized operators. Allowing Polymarket to operate as a “trading platform” rather than a counterparty betting site would set a precedent for any operator to reinterpret betting activity as a market trading activity.
In Romania, participating in unlicensed gambling and promoting such activities is an offense under Government Emergency Ordinance no. 77/2009. Any form of online gambling must be licensed and supervised. Access and promotion of unlicensed platforms expose users and the country to significant risks.
The ONJN’s decision and the updated blacklist will be delivered to Internet service providers to block access to the platform for users in Romania.
ONJN’s Stand on the Issue
The President of ONJN, Vlad-Cristian Soare, stated that the decision to blacklist Polymarket is “not about technology, it’s about the law.” He emphasized that betting on a future outcome in a counterparty bet, whether done with RON (the national currency) or crypto, is considered gambling and must be licensed. The ONJN also stressed that it will not allow blockchain to be used as a cover for illegal betting.
Polymarket’s Status in Other Countries
The press release also mentioned that Polymarket had already been banned in the US after the CFTC ruled that its activity constituted unauthorized trading of derivative instruments. Similar blocking measures were taken in Belgium, France, Poland, and Asia.
Romania’s authority’s statement to protect blockchain technology and not allow illegal activities under its umbrella is seen as positive for the industry in the country. Romania is one of the most significant countries in the region regarding blockchain and crypto adoption, and a safer environment is expected to lead to increased investments.
