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Dutch regulators have ordered crypto forecasting platform Polymarket to stop operating in the Netherlands, warning it could face fines of up to €840,000 if it fails to comply with the order.
The move signals a new escalation in Europe’s growing crackdown on the platform.
Polymarket is losing the European market
The Dutch Gaming Authority (Ksa), the Dutch gambling authority, issued an official order For implementation v. Polymarket Operator, Adventure One QSS Inc. The regulator noted that Polymarket offered illegal gambling services without a Dutch license.
The authorities impose a fine of €420,000 per week if it continues Polymarket It serves Dutch users. Fines can reach a maximum of €840,000 with the possibility of additional penalties based on later revenues.
Polymarket has been in the news often in recent months, especially around the bets on the Dutch elections, wrote the regulator. After contacting the company regarding the illegal activity in the Dutch market, there has been no apparent change and the offer is still available. Therefore, the Gaming Authority imposes this matter under penalty.
The organizer noted that Forecast markets It is classified as gambling under Dutch law, regardless of platform classification. He also insisted that betting on elections is strictly prohibited, even for licensed service providers.
The organizers made a special mention Polymarket activity around the Dutch elections As one of the main problems. They warned that betting on elections could create social risks including a potential impact on democratic processes.
The Netherlands decision followed Similar procedure in Portugal Regulators recently banned Polymarket nationwide.
The Portuguese authorities intervened after seeing the platform Intense betting Linked to the results of the recent presidential elections.
At the same time, many other European countries have taken similar measures. Italy, Belgium and Romania have blocked access to Polymarket while France imposes restrictions on the betting function.
Hungary has also issued an official ban, citing illegal gambling activities.
Forecast markets as financial infrastructure or gaming platform?
These measures reflect a growing consensus among European regulators. Authorities are increasingly classifying prediction markets as gambling if they operate without a license.
Shane Coplan, the creator of Polymarket, has always rejected this classification. He emphasized that prediction markets function as financial infrastructure, similar to derivatives markets, and are not gaming platforms.
Coplan insists that prediction markets help aggregate information and predict real-world events. Regulators vary across Europe.
This has led to Europe becoming one of the tightest regions in the world towards prediction market platforms. The Netherlands’ threats of direct financial sanctions indicate that law enforcement is moving beyond blocking access to sustained legal pressure.
