Polymarket faces $990 000 fine amid Dutch crackdown
The Netherlands Gambling Authority announced that it has imposed a fine on the Dutch subsidiary of the prediction markets platform Polymarket for offering gambling services to residents without a license, ordering it to immediately cease operations.
Dutch authorities are calling on Polymarket’s subsidiary to stop its activities, as its representative — Adventure One — allegedly offered illegal betting services, including bets on local elections in the Netherlands. In a published notice, the regulator stated that failure to comply could result in a fine of up to $990,000.
“Prediction markets are on the rise, including in the Netherlands,” said Ella Seijsener, Director of Licensing and Supervision at the Netherlands Gambling Authority, adding that such companies offer betting products that are not permitted in the Netherlands even for licensed operators.
Prediction markets face growing challenges
The tightening of measures against Polymarket in the Netherlands comes a week after the country’s House of Representatives voted in favor of a proposal to introduce a 36% capital gains tax on investment income, including cryptocurrencies. If approved by the Dutch Senate and signed into law, the measure could take effect as early as 2028.
Meanwhile, in its home market of the United States, Polymarket and other event contract platforms are facing lawsuits from several states. Although the Chair of the Commodity Futures Trading Commission (CFTC) has stated that the agency will defend its “exclusive jurisdiction” over prediction markets, arguing that there is nothing fundamentally new about them, legal challenges at the state level continue.
As we wrote, Polymarket faces new breach reports as users describe stolen funds
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
