Ukrainian Government Bans Polymarket Over Gambling Concerns
Ukraine has decided to block access to the popular crypto-based market Polymarket after declaring it an unlicensed gambling service under national law.
Under Resolution No. 695 adopted on December 10, 2025, the National Commission for the Regulation of Electronic Communications (NCEC) prohibited internet service providers from allowing users to access sites that “organize, conduct or facilitate gambling” without licensing. Consequently, the domain polymarket.com was added to Ukraine’s official registry of blocked domains.
Ukraine Claims Polymarket Is an Illegal Gamble
Predictive Markets and Gambling Laws
Polymarket is a platform where users buy and sell contract “shares” tied to real-world outcomes, ranging from political events to economic indicators. Prices for these contract shares reflect the probability forecast of a particular outcome.
Despite branding itself as a prediction market rather than a betting platform, Ukrainian authorities classify the structure as gambling when conducted without a license.
Regulators also opposed bets related to the Russia-Ukraine conflict, citing ongoing war conditions that make betting both illegal and unethical.
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Blocking Polymarket Is Part of a Global Trend
Restrictions on Prediction Markets Worldwide
Ukraine is not alone in restricting Polymarket. The platform has already been banned in over 33 countries, including France, Germany, the UK, Poland, Singapore, and Australia, all citing the absence of a valid gambling license.
In some jurisdictions, restrictions are partial, allowing users to close existing positions but not open new ones.
The Polymarket Model and Regulatory Backlash
Cryptocurrency, Gaming Regulations, and Government Policy
Founded in 2020, Polymarket has emerged as a leading prediction platform, with a valuation of approximately $8 billion. Transactions on the platform are settled in USDC and recorded on the Polygon blockchain, making bets and outcomes publicly verifiable.
Despite this transparency, regulators maintain that prediction markets could bypass consumer protection and anti-money laundering frameworks applied to licensed gambling operators.
Ukraine argues that offering unsupervised betting-style markets may lead to unregulated gambling and financial harm to local users.
Legal Disputes and Expanding Regulatory Context
Ukraine’s ban occurs amid a broader regulatory crackdown on prediction platforms. In the United States, lawmakers are proposing the Public Integrity in Financial Prediction Markets Act of 2026, targeting insider trading in political contract bets.
Additionally, U.S. states like Tennessee have issued cease-and-desist orders against Polymarket and similar platforms for offering unlicensed sports betting.
Implications for Users and Platforms
Ukraine’s ban on Polymarket exemplifies the tension between decentralized finance and national laws. While websites like Polymarket remain available internationally, users in jurisdictions with strict gambling restrictions—such as Ukraine—will face enforced access blocks.
As regulators worldwide determine how prediction markets fit into financial and gambling frameworks, Polymarket and similar services are likely to remain under regulatory pressure.
