Romania Joins Global Crackdown on Polymarket, Citing $600M in Illegal Crypto Election Bets

Romania has officially joined the list of countries to have blacklisted Polymarket, comparing the comparison between leading crypto prediction platform with an unlicensed gambling operator running outside government oversight.

According to the Romania's National Office for Gambling (ONJN), Polymarket’s trading activity have surged during the country’s recent presidential and local elections, with wagers exceeding $600 million. However, the nation's regulator has criticised the platform's "counterpart betting" mechanism, claiming that this type of model falls squarely under gambling laws regardless of its blockchain-based format.

ONJN President Vlad-Cristian Soare stressed that the nation's regulator isn't targeting crypto-persay, but more of how the platform is a direct antithesis of the law.

“This is not about technology, but about the law. Whether bets are made in lei or crypto, they still quality as gambling and must be licensed.”

Authorities also pointed to multiple legal violations, including failures in fiscal reporting, player protection mechanisms, and anti–money laundering (AML) compliance.

Although Polymarket presents itself as an “event trading” platform, regulators argue that its structure — where users place bets and the platform collects commissions — meets every legal definition of gambling. Romanian internet providers have now been ordered to block access to the site.

Part of a Global Pattern

Romania’s action adds to a string of global crackdowns targeting Polymarket. In 2022, the U.S. Commodity Futures Trading Commission (CFTC) fined the platform for operating unregistered derivatives markets, prompting Polymarket to block American users. Since then, regulators in France, Belgium, Poland, Singapore, and Thailand have imposed similar restrictions, each citing different violations ranging from licensing failures to investor protection concerns.

Despite facing mounting regulatory pressure, Polymarket continues to expand its footprint in the crypto economy. The platform recently secured a $2 billion investment from Intercontinental Exchange, the parent company of the New York Stock Exchange — a signal of institutional confidence in its underlying technology and market potential.

Preparing a U.S. Comeback

Even as regulators tighten their grip globally, Polymarket is preparing a return to the U.S. market. According to Bloomberg, the platform plans to relaunch limited trading by the end of November, initially focusing on sports-related markets.

The comeback follows a recent no-action letter from the CFTC involving a crypto derivatives exchange Polymarket acquired earlier this year — effectively clearing the way for its reentry under stricter compliance oversight.

Polymarket’s U.S. revival marks a pivotal moment for prediction markets seeking regulatory legitimacy. While Romania’s decision highlights the legal risks surrounding crypto-based betting, Polymarket’s persistence signals a broader truth: the line between speculation and gambling in the digital economy is becoming harder for regulators — and users — to define.