Ukraine: "Are Our Tragedies the Target of Betting?"… Access to Polymarket Blocked

Source: BlockMedia Original Title: Ukraine “Is Our Tragedy a Betting Target”… Access to Polymarket Blocked Original Link: https://www.blockmedia.co.kr/archives/1031835 The Ukrainian government has blocked access to the prediction market platform Polymarket. This action was taken because it was classified as an unlicensed gambling site, involving around 200 online betting sites.

The National Electronic Communications Regulatory Commission(NKEK) ordered the blocking of access to approximately 200 websites, including Polymarket, through a resolution on the 10th of last month. Recently, local internet service providers(ISP) have begun implementing this measure.

The Ukrainian government stated that Polymarket provided prediction betting services without obtaining local gambling licenses. Polymarket is a digital prediction market platform where users can bet on the outcomes of various events such as politics, sports, and finance. The increase in bets related to the Ukraine war, especially after the Russian invasion, has been pointed out as a concern.

It is estimated that the betting volume related to the war on Polymarket reached approximately $270 million. Ukraine’s PlayCity(State Agency of Ukraine PlayCity) classifies Polymarket as a “gambling-like prediction market,” considering it an unlicensed operation under local law.

This measure extends the policy of blocking Polymarket, already implemented in 33 countries including France, Germany, the UK, Italy, Poland, Thailand, Australia, Iraq, and North Korea. However, some major prediction markets in the US were excluded from this blocking list.

Ukrainian authorities added this blocking order to the public site blocking list and mandated each telecom operator to enforce it. Regulatory authorities have also announced plans for surprise inspections of businesses that do not comply with the order.