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Portugal Orders Crypto Prediction Platform Polymarket to Shut Down Amid Regulatory Crackdown

Portugal Orders Crypto Prediction Platform Polymarket to Shut Down Amid Regulatory Crackdown

Author:

Global Cryptocurrency

Published:

2026-01-20 14:05:02

18

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BTCCSquare news:

Portugal's gambling regulator, SRIJ, has issued a 48-hour ultimatum to Polymarket, demanding the crypto prediction platform cease operations in the country. The MOVE follows a surge in election-related bets, with authorities citing unauthorized operations and illegal political wagering—a prohibited practice in Portugal regardless of currency used.

Regulators warned that failure to comply could trigger nationwide ISP blocks. Unlicensed status leaves user funds at risk, as only approved operators fall under oversight. The crackdown emerged after local media highlighted $120 million in election bets flowing through the platform.

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