Polymarket, the world’s largest prediction market, was blacklisted by the authorities in Romania. The National Gambling Office (ONJN) added the platform to the blacklikst of unauthorized gambling sites, according to an official release.
Romanian Authorities Blacklisted Polymarket
In an official press release published on October 30 by the National Gambling Office (ONJN), it was revealed that the authority had added the platform to the blacklist of unauthorized gambling sites.
The Romanian authority decided to add the platform to the blacklist of operators conducting gambling activities without a license in the country during its meeting on October 29.
This decision came following an increase in activity on the platform during the Romanian elections in 2024 and amidst a surge in activity during the mayoral elections in Bucharest, the capital of Romania.
Activity on Polymarket Surged During Elections
The official press release revealed that, according to the public data available on Polymarket, during the presidential elections, the total volume of transactions exceeded $600 million, and for the Bucharest local elections, the volume had already surpassed $15 million.
At the moment of writing this article, the volume is over $17 million, according to Polymarket official data.
The early local elections for a new mayor in Bucharest will take place on December 7, 2025.
The press release also highlighted that the term “traded volume” doesn’t represent the amount wagered in a single instance; it’s the cumulative value of transactions between users who bet and exchange financial positions based on the outcome of future events.
A High Level of Unregulated Betting Activity
The official notes highlighted that these figures reflect a rising level of unregulated betting activity that takes place outside of any fiscal, technical, or integrity control.
This leads to an evasion of the legal obligations that are imposed on licensed operators, including the ones related to player protection reporting to the National Office for the Prevention and Control of Money Laundering, and paying taxes and contributions to Romania’s budget.
Romania categorizes Polymarket as a “conterparty betting platform,” despite the fact that the platform is often described as a prediction market or an event trading platform:
- There is a stake involved, and users risk money hoping for a profit.
- There’s a future random event that determines the outcome.
- There is a counterparty involved, other users besides the platform itself.
- The platform only intermediates and charges a fee, without guaranteeing odds.
- Users are encouraged to take a bet.
- The platform does not mediate investments, but organizes bets between participants.
All these factors confirm that the platform is a “crypto betting site”, according to the release which highlighted that the only difference is the technological implementation, not in the legal substance of the activity.
Polymarket operated in Romania without a license or supervision, operating outside the legal framework.
Gambling is a State Monopoly in Romania
The authority said that in Romania, gambling is a state monopoly and it can only be organized by licensed and authorized operators.
Allowing Polymarket to function under the name of a “trading platform” instead of being viewed as a counterparty betting site would create a precedent allowing any operator to reinterpret betting activity as a market trading activity.
Gambling Activities in Romania
In Romania, participating in unlicensed gambling and promoting such activities constitutes an offense, according to the Government Emergency Ordinance no. 77/2009.
Any form of online gambling must be:
- Licensed
- Supervised
Access and promotion of unlicensed platforms expose users and the country to significant risks.
The ONJN decision and the updated blacklist will be delivered to Internet service providers to block access to the platform for users in Romania.
“It’s Not About the Technology, It’s About the Law”
The President of ONJN, Vlad-Cristian Soare, released an official statement that this decision to include Polymarket on the blacklist is “not about technology, it’s about the law.”
He highlighted that whether users bet on RON (the national currency) or crypto, if you stake money on a future outcome in a counterparty bet, it is gambling and must be licensed.
ONJN also highlighted that it will not allow blockchain to become a cover for illegal betting.
Polymarket, Already Banned in the US and Other Locations
The official press release highlighted that Polymarket had already been banned in the US after the CFTC ruled that its activity constituted unauthorized trading of derivative instruments, and similar blocking measures were taken in Belgium, France, Poland, and Asia.
The fact that Romania’s authority stated that it aims to protect the blockchain technology and not allow illegal activities under its umbrella might be a good sign for the industry in the country.
Romania represents one of the most important countries in the region regarding blockchain and crypto adoption, and a safer environment will translate into increased investments.
