The Netherlands Gambling Authority (Ksa) has ordered the prediction platform Polymarket to cease providing services in the Netherlands; otherwise, it will face a fine of 420,000 euros (approximately $462,000 USD) per week, up to a maximum of 840,000 euros.
According to the regulator, prediction markets are considered “illegal gambling” under Dutch law when operated without a license. The penalty order was issued to Adventure One QSS Inc., the operator of Polymarket, for offering betting services to Dutch users without authorization.
This move comes amid a rapidly growing global prediction market, especially around major political events such as the 2024 U.S. presidential election. However, many regulators believe that allowing users to wager on real-world event outcomes essentially constitutes gambling, regardless of the platform’s self-positioning as a financial tool.
Polymarket and its competitor Kalshi have repeatedly asserted that their products are “event contracts” with financial characteristics, not gambling. Nevertheless, both platforms are facing legal challenges in the U.S. and several countries including the UK, France, Germany, Italy, Australia, Singapore, and now the Netherlands.
Experts in the Netherlands say that Ksa’s actions reflect a strict regulatory stance that prioritizes consumer protection and system integrity over approaches that encourage innovation.
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