Romania References Blockchain as a Cover for Unlawful Gambling, Adds Polymarket to Blacklist
As reported by
This enforcement comes after Polymarket saw a surge in trading activity during Romania’s May presidential and local elections, with transaction volumes surpassing $600 million, according to ONJN. Authorities categorized these activities as "counterparty betting," a term that defines users wagering against each other on unpredictable results as gambling. Vlad-Cristian Soare, president of ONJN, stressed that the issue is “a matter of law, not technology,” and clarified that all betting—whether with fiat or cryptocurrencies—must be licensed under Romanian gaming laws.
The platform’s model, which enables users to place bets on real-world events like political races and sports games, has attracted international attention. In 2022, the U.S. Commodity Futures Trading Commission (CFTC) fined Polymarket $1.4 million for running unregistered derivatives markets, resulting in a temporary suspension. Despite these hurdles, the company recently received a $2 billion investment from Intercontinental Exchange, the parent company of the New York Stock Exchange, and is reportedly planning a return to the U.S. market with a focus on sports betting, according to
Gambling in Romania is a state-run monopoly, and all operators must be licensed by ONJN. The regulator cited multiple breaches, such as lack of tax reporting, insufficient player safeguards, and inadequate anti-money laundering (AML) measures. ONJN also pointed out the dangers of using blockchain to conceal unlawful betting, stating it would not allow “blockchain to become a shield for illegal gambling,” as reported by
This action is part of a wider international effort to regulate crypto-based betting platforms. Countries like Belgium, France, and Thailand have also imposed bans on Polymarket, while the European Union is still discussing digital asset regulations. At the same time, the company is facing legal disputes in the U.S., where prediction market Kalshi has filed a lawsuit against New York regulators over alleged regulatory overreach.
Reports suggest that Romanian participants made up a notable share of Polymarket’s election-related trades, with $15 million staked on Bucharest’s local elections alone. ONJN’s revised blacklist will be distributed to internet providers for enforcement, though the long-term effects on Polymarket’s user numbers are still uncertain.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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