Portugal Orders Polymarket to Exit After Election Betting Surge

Portugal’s gambling regulator has moved quickly against Polymarket, a blockchain-based prediction market, following a surge in betting activity. The increase was linked to wagers on the country’s presidential election.

The platform saw heavy participation around the vote, which drew the attention of regulators. Authorities then ordered it to exit the Portuguese market within a short deadline.

Election Betting Triggers Regulatory Response

Activity on Polymarket rose sharply during the presidential election on January 18. Bets on the vote passed 103 million euros, showing strong public interest in political prediction markets.

This increase led regulators to look into the platform’s activities in Portugal. The authority confirmed that Polymarket does not have a license to offer betting services in the country.

The regulator said the platform operates outside the law and therefore cannot offer gambling services to users in Portugal. Based on this finding, authorities ordered the platform to stop operating in the country within 48 hours.

Portuguese Law Prohibits Political Betting

Portugal’s online gambling law, introduced in 2015, allows betting only on sports, casino games, and horse racing. The law clearly bans betting on political events and other real-world outcomes, whether domestic or international. 

Polymarket lets users bet on real-world events, including elections, which goes against Portugal’s national law. Even though the platform can still be accessed in the country for now, regulators may soon ask internet providers to block it.

Other prediction platforms like Kalshi, Myriad, and Limitless are also still available. However, they could face the same action if regulators widen their checks. Portugal’s move is part of a wider global push to more closely regulate prediction markets, especially those linked to politics.

Growing Global Pressure on Polymarket

Founded in 2020, Polymarket continues to face increasing restrictions worldwide. More than 30 countries have limited or banned the platform, including Singapore, Russia, Belgium, Italy, and Ukraine. 

Last year, the prediction platform was blocked and tagged an ‘unauthorized website’ in Romania. The development comes after the Romanian National Office for Gambling (ONJN) announced that Polymarket was carrying out gambling activities in the country without authorization.

including Singapore, Russia, Belgium, Italy, and Ukraine. While some governments have fully blocked the site, others have restricted local access to view-only use, and some still remain cautious about the platform.

Whilst other countries crack down on Polymarket, America has once again opened its gates to the platform.  

In December 2025, Polymarket secured long-awaited approval from the Commodity Futures Trading Commission (CFTC). The prediction platform has started rolling out its U.S. app to users on the waitlist.