Ukraine officially bans the prediction market platform Polymarket

According to Forbes, the Ukrainian authorities have restricted access to the prediction platform Polymarket. The National Commission for the State Regulation of Communications and Informatization (НКЕК) has passed the blocking decision based on Resolution No. 695.

The reason for the blockage is that the platform does not hold a license recognized by the regulatory body for gambling activities. Polymarket's domain name has been included in the publicly available list of prohibited internet resources. According to this document, electronic communication service providers must restrict access to online resources used for organizing, conducting, or providing unlicensed gambling activities.

It is reported that the implementation of this blockage is not uniform; some Ukrainian users have been unable to access the site, while others report that they can still access it without restrictions.

As of December 24, approximately 240 bets related to Ukraine have been completed on the platform, with a total amount exceeding $270 million. Additionally, there are 120 active bets with amounts exceeding $140 million.