Romania’s National Office for Gambling (ONJN) has blacklisted the Polymarket platform for operating without a valid gambling license. The regulator said the move followed an increase in Polymarket’s activity during the country’s recent elections.

Data from the platform showed that total betting volume passed $600 million during the presidential elections, with over $15 million wagered on the Bucharest local elections alone. The ONJN said this increase highlights the rise of unregulated gambling outside official control.

Concerns Over Unregulated Betting and Player Safety

The ONJN warned that platforms like Polymarket bypass all the legal and financial requirements imposed on licensed operators. They include obligations related to player protection, anti-money laundering measures, and tax contributions to the state. The authority said these kinds of activities bypass the legal checks that ensure fair play, security, and proper tax payments in Romania.

Although Polymarket presents itself as a prediction market or event trading platform, the ONJN says it clearly operates as a gambling service. According to the regulator, Polymarket qualifies as a betting platform because it lets users wager money on future events, compete against each other, and take a commission from each bet without guaranteeing any specific odds.

Blockchain Technology Does Not Change Legal Nature

ONJN noted that the main difference between Polymarket and traditional betting operators lies in its use of blockchain and tokenized systems. However, this doesn’t change what the platform really does. Polymarket isn’t an investment service. It simply allows users to place bets against each other. Therefore, the ONJN concluded that it is operating as an unlicensed betting platform, not as a financial trading site.

The regulator also warned that allowing such platforms to be seen as trading sites could create serious legal problems. It could allow other gambling operators to disguise betting activities as stock market trading to avoid regulatory supervision and legal obligations. The ONJN reiterated that gambling is a state-controlled activity in Romania and can only be carried out by authorized entities under strict monitoring.

Global Scrutiny of Polymarket Continues

The ONJN also pointed out that this is not the first time Polymarket has faced sanctions. The platform has already been banned in the United States after the Commodity Futures Trading Commission (CFTC) ruled that it was offering unauthorized derivatives trading. Polymarket was forced to block American users and pay penalties as part of a settlement.

Similar restrictions have been imposed in other countries, including Belgium, France, Poland, Singapore, and Thailand, where regulators also determined that Polymarket’s operations violated local gambling or financial laws.

ONJN’s move shows a growing global concern about the rise of blockchain-based gambling and the need for close monitoring of digital platforms that blur the lines between gaming, trading, and speculation.