Romania has officially blacklisted Polymarket, a blockchain-based prediction market, due to a surge in unlicensed betting activity, particularly surrounding recent presidential and local elections. The National Office for Gambling (ONJN) confirmed the platform has been added to Romania's national blacklist of unlicensed gambling operators.
The ONJN cited an "explosive increase" in user activity during the elections, estimating that transactions on Polymarket exceeded $600 million during the presidential race and an additional $15 million during Bucharest's local elections. While these figures represent cumulative trading volumes between users, rather than individual stakes, the regulator stated that they demonstrate a "significant level of unregulated betting activity taking place outside state control".
According to the ONJN, Polymarket functions as a "counterparty betting operator," despite presenting itself as an "event-trading" or "prediction" platform. The agency argues that the platform allows users to wager on future events across multiple markets and charges a commission on wagers, which legally requires a Romanian gambling license. The ONJN President, Vlad-Cristian Soare, clarified that the ban is based on legal compliance, not technological aspects, cautioning against using blockchain to bypass regulations. He stated that betting money on a future result constitutes gambling that must be licensed, regardless of whether it is done in traditional currency or cryptocurrency.
The ONJN also warned that such unlicensed activity undermines player protection, anti-money laundering (AML) obligations, and fiscal controls, while also violating Romania's state monopoly on gambling. The agency stated that allowing counterparty betting to be reclassified as trading would create a reckless precedent, especially considering Polymarket's growing social acceptance as a "smart betting alternative". The regulator reminded users that participating in or promoting unlicensed gambling is a misdemeanor under Government Emergency Ordinance 77/2009, which could result in fines for both players and promoters.
The ONJN has instructed internet service providers to block access to Polymarket for Romanian users. This action aligns Romania with a growing number of jurisdictions cracking down on the platform. France geo-blocked the platform in late 2024, and Belgium declared it illegal in February 2025. Poland has also added Polymarket to its Register of Illegal Gambling Domains, prompting ISP and payment service restrictions. In 2022, the U.S. forced Polymarket to exit after a $1.4 million fine for operating as an unregistered swap execution facility.
Despite facing regulatory challenges, Polymarket secured a $2 billion investment from Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, in October 2025. The company has also sought to re-enter the U.S. market through the acquisition of a CFTC-licensed derivatives exchange.
Polymarket's CEO, Shayne Coplan, has stated that the company aims to operate within regulated frameworks. However, the platform's lack of licenses in EU jurisdictions remains a hurdle as it pursues global growth.
