The focus keyword Polymarket illegal crypto betting reflects the recent action by Romanian regulators who have flagged the prediction-market platform Polymarket as operating a gambling service without a licence. The case highlights how crypto-based platforms are increasingly coming under traditional gambling laws.
What Happened
- On 31 October 2025, Romania’s ONJN added Polymarket to its official blacklist of unlicensed gambling operators.
- The regulator concluded that Polymarket’s activity met the criteria for “counterparty betting” – that is, users wagering money against each other on the outcome of future events, which falls under Romanian gambling legislation regardless of whether the currency used is fiat or crypto
- ONJN cited data showing that Polymarket had processed over US $600 million in transaction volume during the country’s presidential election period, and more than US $15 million in wagers on Bucharest local elections.
- The regulator also pointed out that Polymarket lacked required licensing, fiscal-reporting, anti-money-laundering (AML) controls, and player protection measures — obligations imposed on licensed gambling operators.
- The blacklisting means internet service providers in Romania will be required to block access to the platform’s domain and associated services.
Why This Matters
Regulatory Precedent
The move underscores that blockchain-based “prediction markets” cannot automatically claim exemption from gambling laws. Romanian regulators emphasised that “it is not about the technology, but about the law”.
Crypto-Gambling Convergence
As platforms like Polymarket blur the lines between trading and betting, the regulatory landscape is forced to respond. The decision signals regulators’ intent to treat crypto-based betting like traditional gambling.
Impact on Users & Market Access
Romanian users of Polymarket will see access restricted, and this may discourage operators from servicing EU jurisdictions without local licences. The move may also affect how investors and participants view decentralised prediction markets.
Broader Avalanche of Enforcement
This action is part of a wider pattern: Polymarket has already faced scrutiny in the US, Belgium, France, Singapore, Thailand and other jurisdictions for operating without licence or proper regulatory oversight. AInvest
What to Watch
- Will Polymarket apply for a licence in Romania (or other European jurisdictions) to restore lawful access?
- How will other regulators respond to similar models of crypto-based prediction markets? Are more jurisdictions going to blacklist or regulate them?
- What implications does this have for the design of crypto platforms: will more emphasise compliance (AML, fiscal reporting, licensing) rather than “permissionless” access?
- How will users in Romania (and elsewhere) react to the access blocks? Will they source VPNs or shift to other unregulated platforms?
- Will this affect the token-economics or valuation of Polymarket’s native token (if applicable) and similar platforms by increasing perceived regulatory risk?
Conclusion
Romania’s action to blacklist Polymarket for illegal crypto betting marks a significant moment in the regulatory enforcement of crypto-prediction markets. The decision clarifies that regardless of technology or decentralisation, offering wagers on future events without a licence can be treated as gambling under national law. For platforms, users and investors alike, the message is clear: regulatory compliance remains central even in the crypto world.
