Romania Places Polymarket Platform on Blacklist Amid Increased Activity During Elections

Polymarket Blacklisted in Romania: The National Gambling Office (ONJN) of Romania has blacklisted Polymarket, categorizing it as an unauthorized gambling site due to its unlicensed operations during the 2024 elections.

Surge in Betting Activity: Polymarket experienced a significant increase in transaction volumes, exceeding $600 million during the presidential elections and over $17 million for the Bucharest local elections, highlighting a rise in unregulated betting.

Legal Implications of Gambling: The ONJN emphasized that all gambling activities in Romania must be licensed and supervised, and that allowing platforms like Polymarket to operate under different classifications could set a dangerous precedent.

Global Context and Future Outlook: Polymarket has faced bans in the US and other countries for similar reasons, but Romania's stance aims to protect blockchain technology while ensuring a legal framework for gambling, potentially fostering a safer environment for crypto investments.