Ukrainian officials: Prediction markets are not legally recognized, and Polymarket has no legal way to resume operations.

Huoxun Finance reported on January 25th that, according to CoinDesk, a senior official involved in formulating Ukraine's digital economy policy stated that Ukraine currently lacks a legal framework for Web3 prediction markets, and existing laws do not recognize such platforms. Days after Ukraine blocked Polymarket and nearly 200 gambling-related websites, Dmitry Nikolayevsky, chief legal officer of the Digital Economy Development Project Office of the Ukrainian Ministry of Digital Transformation, revealed that while the decision to ban Polymarket followed existing legal procedures, the fundamental problem lies in the country's legal framework's complete lack of recognition of prediction markets. Furthermore, legal reform is unlikely in the short term, as the possibility of the wartime parliament amending the definition of gambling is extremely low, leaving prediction markets in a legal deadlock.