Double Dutch drama as regulator fends off black market and predictions

Polymarket Gets Hit With $487,000 Dutch Penalty for Halting Service One Day Too Late

The Dutch gambling regulator (KSA) has moved to collect €420,000 (~$487,000) from the company behind Polymarket, the latest sign that Europe is treating prediction markets as unlicensed gambling even as the US embraces them as financial products. How a single day cost Polymarket $487,000 The Kansspelautoriteit (KSA) published its collection decision on 16 June against […]

Double Dutch drama as regulator fends off black market and predictions

The Dutch gambling regulator has made good on its word to hit predictions market giant Polymarket with financial penalties, charging the company €420,000 (£363,000). Back in February, Polymarket was warned that it would be hit with a weekly fine of €420,000 if it did not cease its activity in the Netherlands. The US-based predictions platform was told that its Dutch activity was considered illegal gambling. It seems that Polymarket did not take …