Polymarket to Take Dutch Ban to Court over Gambling Label
Polymarket says its USDC-settled contracts are financial products, while Dutch regulators say the platform offered gambling without a licence and sought a €420,000 penalty.
- Polymarket challenged the Dutch gambling ban in court in The Hague on October 5, arguing its platform offers financial products rather than unlicensed bets subject to gambling regulation.
- The Dutch Gambling Authority ordered Polymarket to stop serving Dutch users on January 20, threatening €420,000 weekly penalties up to €840,000 maximum; the regulator rejected the company's administrative objection in June.
- Polymarket contends its event contracts resemble derivatives markets where traders buy and sell positions linked to future events, while the Ksa maintains Dutch law restricts betting to sports and classifies prediction markets as games of chance.
- The Ksa's enforcement order remains active while the court challenge proceeds, and Polymarket continues restricting Dutch user access; the platform now lists the Netherlands among 39 countries where services are completely blocked.
- Polymarket argues the Dutch Authority for Financial Markets should oversee its contracts, citing the U.S. Commodity Futures Trading Commission's classification of similar products as "Swap .
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Cryptocurrency News | Cryptocurrency Prices | Market CapPolymarket to take Dutch ban to court over gambling label
Polymarket plans to challenge its Dutch ban in court, arguing its prediction contracts are financial products instead of gambling.
U.S. prediction site Polymarket to fight Dutch ban in court
Polymarket will challenge the Netherlands’ ban on the American prediction site in court, the company told Financieele Dagblad. The Dutch Gambling Authority (Ksa) ordered Polymarket to cease operations in February. But according to Polymarket, the prediction site is not gambling, but a financial product that should fall under the Dutch Authority for Financial Markets (AFM), not the Ksa.
The American prediction site Polymarket is taking legal action to challenge a ban in the Netherlands. Polymarket confirmed this to the FD. In February, the Dutch Gaming Authority (Ksa) ruled that Polymarket had to cease its activities in the Netherlands. The regulator ruled that Polymarket is a gambling site operating without the necessary license. Polymarket eventually complied with the Ksa and stopped, but too late. Consequently, a penalty of…
The American prediction site Polymarket is challenging the ban on operating in the Dutch market in court. In February, the Dutch Gaming Authority ruled that Polymarket had to cease its activities in the Netherlands, under penalty of a fine. According to the regulator, Polymarket offers a gambling site without the necessary license. The company has filed a case at the District Court in The Hague.
Polymarket opens a new judicial front in Europe on the nature of prediction market. The platform has challenged before the Dutch justice the measure of the Authority for the game that has imposed it to leave the market and a sanction of 420 thousand euros for the delay regarding the expiration previewed from the order. At the center of the appeal [...]
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