Polymarket hit by fresh Europe crackdowns as Hungary, Portugal block access
The moves highlight the growing uncertainty over whether crypto prediction markets are treated as finance or gambling.
Update Jan. 20, 12:29 p.m. UTC: This article has been updated to include a paragraph on the details surrounding Portugal’s ban on Polymarket.
Hungary and Portugal have taken steps to restrict access to the crypto-based prediction market Polymarket, adding to mounting regulatory pressure on the platform across Europe.
Hungary’s regulatory authority, Szabályozott Tevékenységek Felügyeleti Hatósága, has temporarily blocked access to Polymarket’s domain and subdomains, citing the “forbidden organization of gambling activities.” According to an official notice released Friday, the restriction will remain in place until the authority completes its review.