Ukrainian authorities ban the prediction market platform Polymarket

On January 12, according to Forbes, Ukrainian authorities have restricted access to the prediction platform Polymarket website. The National Commission for State Regulation of Electronic Communications (НКЕК) approved the blocking decision based on Resolution No. 695. The reason for the blockade is that the platform does not hold a business license recognized by the regulatory authority for gambling activities. Polymarket’s domain has been listed on the publicly available prohibited internet resources list. According to this document, electronic communication service providers must restrict access to online resources used to organize, conduct, or facilitate unlicensed gambling activities. It is reported that the implementation of this blockade has been uneven, with some Ukrainian users unable to access the site, while others say they can still open it without restrictions. As of December 24, approximately 240 bets related to Ukraine have been completed on the platform, totaling over $270 million. Additionally, 120 active bets have a total amount exceeding $140 million.