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Czech Republic adds Polymarket to illegal online gambling list, orders ISPs to block access

AI Market Summary
The Czech Ministry of Finance added Polymarket to its unauthorized gambling list and ordered ISPs to block access within 15 days, reinforcing a broader EU pattern of restrictions on prediction markets. Regulatory scrutiny is also rising via ESMA's warning that certain event contracts may be barred for retail as binary options-like instruments. This elevates compliance and access risk for stablecoin-settled venues, potentially dampening activity flowing through USDC rails.
Impact level
● Medium
AI InsightAI Insight
▼ Bearish
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According to Odaily Planet Daily, the Czech Ministry of Finance on July 13 placed Polymarket on its register of unauthorized online gambling services, designating it an unlicensed gambling platform. Internet service providers have been instructed to block access within 15 days. The Czech Gambling Regulatory Institute said Polymarket settles transactions in the USDC stablecoin and operates as a decentralized exchange, without providing services through locally licensed operators. The institute added that several EU jurisdictions have recently moved to restrict or block Polymarket, noting that Italy has reinstated its blocklist and the Netherlands has rejected the platform's appeal. Separately, the EU's markets regulator ESMA issued a warning this month that event contracts deemed financial instruments cannot be sold to retail investors under existing binary options rules. Gibraltar introduced a dedicated regulatory framework for prediction markets this week, and Malta is evaluating a similar approach. (Bitcoin.com News)
USDC
USDC-0.04%
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