Portugal Watchdog Orders Polymarket to Shut Down Within 48 Hours

The post Portugal Watchdog Orders Polymarket to Shut Down Within 48 Hours appeared first on Coinpedia Fintech News

Portugal’s gambling regulator has ordered the crypto prediction platform Polymarket to shut down its services within the next 48 hours. As millions flowed into election-related bets, authorities stepped in with a strict deadline, citing illegal betting activity and rising concerns for user safety.

Portugal’s gaming regulator, SRIJ, has ordered Polymarket to stop all operations in the country within 48 hours. If the platform fails to comply, internet providers may be asked to block access nationwide.

The regulator said Polymarket is operating without proper authorization and highlighted that the platform allows political betting, a practice strictly banned in Portugal, whether using traditional money or cryptocurrency.