Feed / Enforcement & compliance
By SectorWire desk ·
The KSA has upheld its illegal gambling sanction against Polymarket following an appeal. Polymarket said its platform connects users to an open-source blockchain protocol and argued that financial rules cover certain markets.
The sanction remains in place despite Polymarket’s arguments about its platform and contracts.
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The reported public view and opposition to several types of betting inform the debate over prediction market oversight.
The appeal concerns whether Polymarket’s prediction markets fall under Dutch gambling rules.
The challenge contests the KSA’s classification of prediction markets as gambling and its ban on Polymarket serving Dutch users.
Groothuizen’s call highlights enforcement challenges when unlicensed operators change legal identities or offshore jurisdictions.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The access restrictions affect how prediction-market platforms can serve users in Taiwan amid enforcement over election-related betting.