TechFlow News — On January 20, according to CoinDesk, Portugal's gambling regulator SRIJ has ordered the blockchain prediction market platform Polymarket to cease all operations in the country within 48 hours. The move comes after the platform attracted over €103 million (approximately $120 million) in wagers on Portugal’s recent presidential election. Under Portugal’s 2015 online gambling law, betting on political events is illegal in the country.
Polymarket is not currently blocked, but the regulator may soon instruct internet service providers to impose a blockade. Launched in 2020, the platform is now restricted in more than 30 countries globally, including Singapore, Russia, Belgium, Italy, and most recently, Ukraine.
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