Polymarket faces global crackdown as regulators label it illegal gambling
Polymarket, a well-known prediction marketplace, is facing growing regulatory pressure worldwide. Authorities in multiple countries have raised concerns over its operations, with some classifying it as illegal gambling rather than a financial service. Recent actions in Australia, the Netherlands, and the United States highlight the platform's legal challenges.
In August 2025, Australia blocked access to Polymarket after an investigation by the Australian Communications and Media Authority (ACMA). The regulator determined that the platform operates as illegal gambling, not a financial service. Despite this, Polymarket had already attracted over 1.88 million Australian visitors between November 2024 and May 2025.
The Netherlands also took action, fining Polymarket's operator for running an unlicensed gambling service. Meanwhile, Ukraine restricted access to the platform entirely. In the United States, lawmakers are drafting new rules for prediction markets following allegations of insider trading. While Polymarket currently operates without full federal oversight, it plans to launch a regulated U.S. version by 2026.
Regulatory issues have extended to other regions as well. France and broader European authorities have scrutinised the platform, while Nevada temporarily banned Polymarket in early 2026 to prevent betting on Super Bowl 60. The platform remains ineligible to operate in Australia without a gambling licence.
Polymarket's future remains uncertain as regulators worldwide tighten controls. Without proper licensing, its access to key markets like Australia is blocked. The company's push for a regulated U.S. version in 2026 will likely face further scrutiny from lawmakers and financial watchdogs.
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