Portugal Cracks Down on Polymarket Following Suspicious Election Betting Activity

Portuguese authorities are preparing to block access to Polymarket after millions of euros were wagered on the outcome of the country’s presidential election before official results were made public. The move comes as prediction markets continue to gain traction, with sports, politics, and crypto accounting for the majority of activity on the platform. Polymarket Under Regulatory Fire in Portugal According to Renascença, the Gambling Regulation and Inspection Service (SRIJ) has confirmed that the crypto-based prediction platform operates illegally in Portugal, where betting on political events is prohibited under national law. According to the regulator, Polymarket was formally notified on Friday and given 48 hours to cease its activity in the country source: https://beincrypto.com/portugal-blocks-polymarket-election-betting/