Polymarket Appeal Rejected by Dutch Gambling Regulator
HighlightsÂ
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KSA reaffirms an illegal gambling penalty on Polymarket despite the appeal.
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Last month, nine European regulators introduced a unified enforcement initiative targeting unlicensed prediction market operators.
The Dutch gambling authority, Kansspelautoriteit (KSA), has upheld its sanction against Polymarket after rejecting an appeal from its operator, Adventure One QSS Inc., over illegal gambling services in the Netherlands.
In January, the KSA concluded that Polymarket had enabled Dutch users to bet on the outcomes of future events for prizes or rewards, bringing the platform within the legal definition of gambling in the Netherlands.
The KSA announced on 23 June that it had upheld its January sanction, warning Polymarket’s parent company of financial penalties if it did not comply with the order to exit the Dutch market.
In March, Polymarket’s parent company challenged the original sanction, pleading that its legal costs be reimbursed as part of the appeal.
It denied the regulator’s claim that its offering amounts to gambling, despite lacking a Dutch gambling licence.Â
Adventure One said its platform is merely an interface to the Polygon blockchain, where users trade peer-to-peer using crypto wallets, and an external oracle verifies the results.
However, the KSA disagreed with the company’s position, finding that the presence of chance, which lies outside participants’ decisive influence, qualified the offering as a gambling service.
The ruling highlights Europe’s increasingly fragmented regulatory approach to decentralised prediction markets.
Last month, nine European gambling regulators unveiled a collaborative initiative that is aimed at curbing illegal prediction market operations.
To know the full news story, Read Here!
In January, the KSA concluded that Polymarket had enabled Dutch users to bet on the outcomes of future events for prizes or rewards, bringing the platform within the legal definition of gambling in the Netherlands.
The KSA announced on 23 June that it had upheld its January sanction, warning Polymarket’s parent company of financial penalties if it did not comply with the order to exit the Dutch market.
In March, Polymarket’s parent company challenged the original sanction, pleading that its legal costs be reimbursed as part of the appeal.
It denied the regulator’s claim that its offering amounts to gambling, despite lacking a Dutch gambling licence.Â
Adventure One said its platform is merely an interface to the Polygon blockchain, where users trade peer-to-peer using crypto wallets, and an external oracle verifies the results.
However, the KSA disagreed with the company’s position, finding that the presence of chance, which lies outside participants’ decisive influence, qualified the offering as a gambling service.
The ruling highlights Europe’s increasingly fragmented regulatory approach to decentralised prediction markets.
Last month, nine European gambling regulators unveiled a collaborative initiative that is aimed at curbing illegal prediction market operations.
To know the full news story, Read Here!
