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. #MarketRebound #PolymarketPower #ETH $ETH