Ukrainian authorities ban prediction market platform Polymarket

BlockBeats News, January 12, according to Forbes, Ukrainian authorities have restricted access to the prediction platform Polymarket website. The National Commission for the State Regulation of Electronic Communications (НКЕК) made the decision to block the site based on Resolution No. 695.

The reason for the block is that the platform does not hold an operating license for gambling activities as recognized by the regulatory authority. Polymarket's domain name has been included in the public list of prohibited internet resources. According to the document, electronic communication service providers must restrict access to online resources used to organize, conduct, or provide unlicensed gambling activities.

It is reported that the implementation of this block is uneven; some Ukrainian users are already unable to access the website, while others say they can still open it without restrictions.

As of December 24, approximately 240 Ukraine-related bets had been completed on the platform, with a total amount exceeding $270 million. In addition, there are 120 active bets with amounts exceeding $140 million.