{"id":5822,"date":"2026-01-20T14:30:31","date_gmt":"2026-01-20T14:30:31","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=5822"},"modified":"2026-01-20T14:30:31","modified_gmt":"2026-01-20T14:30:31","slug":"portugal-orders-polymarket-to-shut-down-over-election-betting-surge","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=5822","title":{"rendered":"Portugal orders Polymarket to shut down over election betting surge"},"content":{"rendered":"<p><\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x-smartcrop-363x181.png\" type=\"image\/jpeg\"\/><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x.png\" alt=\"Portugal orders Polymarket to quit over election betting surge\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li data-start=\"66\" data-end=\"293\">Portugal prohibits political betting under its 2015 online gambling law.<\/li>\n<li data-start=\"66\" data-end=\"293\">Polymarket remains accessible, but regulators may ask ISPs to block it.<\/li>\n<li data-start=\"66\" data-end=\"293\">Polymarket faces restrictions in 30+ countries, with access limits varying by market.<\/li>\n<\/ul>\n<p data-start=\"66\" data-end=\"293\">Portugal\u2019s gambling regulator has ordered blockchain-based prediction market Polymarket to cease operations in the country within 48 hours after the platform saw a sharp spike in activity linked to Sunday\u2019s presidential election.<\/p>\n<p data-start=\"295\" data-end=\"600\">According to R\u00e1dio Renascen\u00e7a, bets placed on the outcome of the Jan. 18 vote exceeded 103 million euros ($120 million).<\/p>\n<p data-start=\"295\" data-end=\"600\">The regulator, the Servi\u00e7o de Regula\u00e7\u00e3o e Inspei\u00e7\u00e3o de Jogos (SRIJ), said Polymarket does not hold a licence to offer betting services in Portugal and is therefore operating illegally.<\/p>\n<p data-start=\"602\" data-end=\"814\">The enforcement step highlights how prediction markets are increasingly colliding with national gambling laws, particularly when political events drive rapid inflows of user activity and large volumes of capital.<\/p>\n<h2 data-start=\"816\" data-end=\"885\">A fast-growing prediction market meets strict local gambling rules<\/h2>\n<p data-start=\"887\" data-end=\"1054\">Polymarket is a prediction market that lets users bet on real-world events such as politics, sports, or other developments by buying shares tied to potential outcomes.<\/p>\n<p data-start=\"1056\" data-end=\"1253\">In Portugal, betting on political events and other real-world outcomes is illegal.<\/p>\n<p data-start=\"1056\" data-end=\"1253\">Under the country\u2019s 2015 online gambling law, betting is permitted only on sports, casino games, and horse racing.<\/p>\n<p data-start=\"1255\" data-end=\"1447\">SRIJ said Polymarket is not authorised to offer betting services in Portugal and cannot legally operate political markets, whether they relate to domestic events or international developments.<\/p>\n<h2 data-start=\"1449\" data-end=\"1509\">The regulator\u2019s 48-hour deadline and what could come next<\/h2>\n<p data-start=\"1511\" data-end=\"1669\">The regulator\u2019s decision was tied to the surge in election-related betting, with activity around the Portuguese presidential race drawing increased attention.<\/p>\n<p data-start=\"1671\" data-end=\"1870\">SRIJ formally ordered Polymarket to quit the country within 48 hours.<\/p>\n<p data-start=\"1671\" data-end=\"1870\">However, the platform remains accessible for now, though regulators may soon instruct internet service providers to block access.<\/p>\n<p data-start=\"1872\" data-end=\"2096\">Other prediction market platforms, including Kalshi, Myriad, and Limitless, also appear to be accessible in Portugal, even as authorities focus specifically on Polymarket\u2019s licensing status and its political betting markets.<\/p>\n<h2 data-start=\"2098\" data-end=\"2145\">Election-related volume draws fresh scrutiny<\/h2>\n<p data-start=\"2147\" data-end=\"2283\">The size of the wagering linked to the Jan. 18 vote has put the spotlight on how quickly liquidity can concentrate on political markets.<\/p>\n<p data-start=\"2285\" data-end=\"2458\">R\u00e1dio Renascen\u00e7a reported that bets exceeded 103 million euros ($120 million), underscoring the scale of the activity on Polymarket tied to Portugal\u2019s presidential election.<\/p>\n<p data-start=\"2460\" data-end=\"2614\">Such volumes can draw regulator attention faster than smaller niche markets, especially in jurisdictions where political betting is explicitly restricted.<\/p>\n<h2 data-start=\"2616\" data-end=\"2657\">Polymarket faces bans in 30+ countries<\/h2>\n<p data-start=\"2659\" data-end=\"2825\">Polymarket was founded in 2020 and has already faced restrictions in more than 30 countries, including Singapore, Russia, Belgium, Italy, and, more recently, Ukraine.<\/p>\n<p data-start=\"2827\" data-end=\"3078\">Regulatory approaches vary by jurisdiction. Some countries, such as Belgium, have blacklisted the website.<\/p>\n<p data-start=\"2827\" data-end=\"3078\">Others, including France, have limited access so that local users can enter the platform in a \u201cview-only\u201d mode rather than actively participate.<\/p>\n<p data-start=\"3080\" data-end=\"3326\">Portugal\u2019s enforcement action adds to that growing list and shows how legal pressure on prediction markets can escalate quickly when platforms gain traction around elections.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>Policy and Regulation,Blockchain Technology,Polymarket,Portugal#Portugal #orders #Polymarket #shut #election #betting #surge1768919431<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Portugal prohibits political betting under its 2015 online gambling law. Polymarket remains accessible, but regulators may ask ISPs to block it. Polymarket faces restrictions in 30+ countries, with access limits varying by market. Portugal\u2019s gambling regulator has ordered blockchain-based prediction market Polymarket to cease operations in the country within 48 hours after the platform saw<\/p>\n","protected":false},"author":1,"featured_media":5823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":{"0":"post-5822","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eurozone"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Portugal orders Polymarket to shut down over election betting surge - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"Portugal ordered Polymarket to quit within 48 hours after election betting topped 103 million euros, raising scrutiny of prediction markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=5822\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portugal orders Polymarket to shut down over election betting surge\" \/>\n<meta property=\"og:description\" content=\"Portugal ordered Polymarket to quit within 48 hours after election betting topped 103 million euros, raising scrutiny of prediction markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=5822\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-20T14:30:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x-1024x683.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=5822\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=5822\",\"name\":\"Portugal orders Polymarket to shut down over election betting surge - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=5822#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=5822#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x.png\",\"datePublished\":\"2026-01-20T14:30:31+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"Portugal ordered Polymarket to quit within 48 hours after election betting topped 103 million euros, raising scrutiny of prediction markets.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=5822#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=5822\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=5822#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x.png\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/01\/20260120_1843_Image-Generation_simple_compose_01kfdrjfp2fjyb5bpcdt356x3x.png\",\"width\":1536,\"height\":1024},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=5822#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Portugal orders Polymarket to shut down over election betting surge\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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