Portugal has banned Polymarket
Portugal's gambling regulator has declared the crypto prediction market Polymarket illegal, ordering the suspension of operations and blocking the website in the country.
Reason: betting without a license + political betting which is against the law.
🗳️ Over €4M was wagered before the presidential election, with total volume exceeding €110M — raising concerns about exit polls / non-public information.
⚠️ Authorities state: after the platform is blocked, there is no guarantee that users' funds will be recovered.
Lesson: Unlicensed prediction markets are high risk.
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