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Read Full BioPortugal’s gambling regulator has ordered Polymarket to stop accepting users from inside the country within the next 48 hours after it accepted wagers on the country’s presidential election over the weekend.
Over $121 million has been traded on the Portuguese election market at Polymarket, which remains open as the race goes to a runoff between Antonio Jose Seguro and Andre Ventura. Both candidates failed to exceed the required 50% of the vote to win the election outright.
Seguro is expected to win the runoff, which takes place on February 8, after coming out on top in the first round. He currently has a 97% chance at Polymarket, compared to 3% for far-right candidate Ventura.
Regulator Says Polymarket Unlicensed, Political Betting Illegal
In a statement, the Serviço de Regulação e Inspeção de Jogos (SRIJ), Portugal’s gambling regulator, stated, “The website is not authorized to offer betting in Portugal, as national law prohibits betting operations regarding political events, be they domestic or international.”
Polymarket remains accessible in Portugal and has not added the country to its list of geoblocked regions, which continues to include the United States, despite the company recently relaunching in the country.
The list does not include Hungary, either, although the country said last week that it has temporarily blocked access to the platform while it reviews its gambling activity.
The platform’s election markets have attracted scrutiny from law enforcement agencies worldwide. It was its presidential market that led the FBI to raid founder Shayne Coplan’s home in 2024. At that time, Polymarket was restricted in the US, but has since gained approval from the Commodity Futures Trading Commission (CFTC) to again accept US users.
As it reenters the market, it is already attracting legal challenges. Nevada filed a civil enforcement action against the company to prevent the platform from offering sports betting in the state.
Other Countries Blocking Polymarket
Ukraine also ordered Internet Service Providers (ISPs) to geoblock Polymarket last week, but the site only lists certain regions (Crimea, Donetsk, and Luhansk) as restricted. The country has taken exception to a range of markets on its conflict with Russia.
Australia also increased its restrictions on the website last year. Polymarket lists Australia as a geoblocked region, but the Australian Communications and Media Authority (ACMA) accused the company of targeting users through social media.
Polymarket allegedly paid influencers on TikTok and Instagram to promote the platform in the lead-up to the nation’s federal election last year. As a result, the ACMA announced in August that it had taken steps to block access to the site.
Polymarket did not comment on Portugal’s gambling regulator’s statement or on whether it will add the country to its blocked list. The platform, however, notes on its website that it takes steps to geoblock certain regions to ensure compliance with gambling and prediction market laws.
