Huoxun Finance reported on January 20th that, according to CoinDesk, Portugal's betting regulator, SRIJ, has ordered the blockchain-based prediction market Polymarket to cease operations in the country within 48 hours. This comes after betting on the January 18th presidential election exceeded €103 million (approximately $120 million). The regulator pointed out that Polymarket does not hold a Portuguese betting license, and Portuguese law prohibits betting on the outcome of real-world events such as politics, allowing only sports, casino games, and horse racing betting. Polymarket is currently still accessible in Portugal, but the regulator may soon require internet service providers to block it.
Portuguese regulators have ordered the prediction market Polymarket to cease operations in the country.
2026-01-20 12:00:13
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