Netherlands Orders Polymarket to Halt Operations, Threatens Weekly Fines
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Dutch regulators have ordered Polymarket to cease operations in the Netherlands, citing illegal gambling under the Remote Gambling Act. The company faces weekly fines of €420K for noncompliance. This action reflects growing global regulatory scrutiny on prediction markets.
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- Dutch regulator orders Polymarket to halt operations or face €420K in weekly fines over licensing breach.
- Netherlands classifies prediction markets as illegal gambling under its 2021 Remote Gambling Act.
- Global pressure builds as US and European regulators tighten oversight on prediction market platforms.
Dutch regulators have moved to block prediction market platform Polymarket from operating in the Netherlands, ordering the company to stop offering services to local users or face escalating financial penalties.
The Netherlands Gambling Authority (Ksa) said Adventure One QSS Inc., which operates Polymarket, provided gambling services without the required national license. The regulator warned that noncompliance will trigger fines of €420,000 ($462,000) per week, capped at €840,000 ($924,000).
In a statement issued Tuesday, the Ksa directed the platform to…
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