Dutch Authority Expels Polymarket from the Netherlands

Weekly fines of €420,000 ($496,000) await Polymarket if it ignores orders. Penalties peak at €840,000 total.

Key Points

• Prediction markets count as gambling according to KSA rules.
• The authority demands that Polymarket halt operations immediately.
• Future turnover-based fines remain possible.

Polymarket faces €840,000 ($992,000) in fines from the Netherlands Gambling Authority for illegal operations. The company runs games of chance without Dutch licensing according to KSA findings.

€420,000 weekly fines start when Polymarket continues operating in the Netherlands. Maximum fines stop at €840,000 representing two weeks’ worth of penalties. High-profile prediction platforms including Polymarket deny that their services constitute gambling activities. The KSA tried contacting Polymarket regarding Dutch operations without getting responses. Two-week sanction periods exist but turnover-related fines could follow afterwards.

KSA’s Ella Seijsener notes that prediction markets are expanding throughout the Netherlands currently. Such platforms offer prohibited betting without any legal exceptions. Sanction caps at two weeks puzzle observers given KSA’s tough regulatory stance. Social risks from predictions including election interference make this illegal gambling per Seijsener. Unlicensed operators cannot access Dutch markets under any circumstances.