Polymarket has been blocked in the Czech Republic after regulators decided the platform operates like an unlicensed gambling service.
The Czech Ministry of Finance has ordered internet providers to block access to Polymarket within 15 days. Officials say that even though Polymarket presents itself as a prediction market and investment platform, the basic idea is still the same as gambling. People put money on the outcome of future events and either win or lose depending on what happens.
Regulators argued that changing the language does not change the nature of the activity. Calling bets “contracts” and winnings “investment returns” does not make them something different in the eyes of the law.
Jan Řehola, Director of the Czech Institute for Gambling Regulation, said prediction markets should not receive special treatment just because they use financial or technology-related terms. According to him, these platforms allow users to risk money on uncertain outcomes, which is why they should follow the same rules as traditional gambling operators.
He also stressed that the decision is not about stopping innovation. Instead, it is about making sure all companies offering betting-style products follow the same standards. These standards include player protection, anti-money laundering measures, and proper regulatory oversight.
The Czech Republic is not the first country to take action against Polymarket. Several European countries, including France, Germany, Romania, Spain, and Belgium, have already imposed restrictions on the platform. Similar actions have also been taken in countries such as Australia, New Zealand, Brazil, India, and Argentina.
In India, authorities blocked access to Polymarket in May after classifying it as an illegal online money gaming platform. Argentina followed with its own nationwide block after a court ruled that the platform was operating outside the country’s gambling regulations.
Not every country is taking the same approach. Gibraltar recently introduced a separate set of rules specifically designed for prediction market companies. Instead of treating them as gambling operators or financial firms, Gibraltar created a new regulatory framework for the industry and has already licensed some prediction market businesses.
Meanwhile, South Korea is still reviewing the issue. Regulators there recently delayed any enforcement action and decided to hear Polymarket’s response before making a final decision.
Polymarket is also facing regulatory attention in the United States. The Commodity Futures Trading Commission (CFTC) is currently examining parts of the company’s operations, including activities connected to its social media presence.
As more governments look at prediction markets, the debate continues over whether platforms like Polymarket should be treated as investment tools, technology products, or simply another form of online gambling.
