Portugal Bans Polymarket: Global Crackdown on Prediction Markets Intensifies

Portugal has officially moved to block access to the popular prediction market platform Polymarket. This decision places Portugal among a growing number of nations taking regulatory action against such platforms. The crackdown centers on concerns over unlicensed gambling and financial speculation, with authorities aiming to protect consumers. The move highlights the increasing global scrutiny facing crypto-based prediction markets and similar decentralized finance (DeFi) applications. Regulatory bodies worldwide are now more actively evaluating the legal status of these platforms, which allow users to bet on real-world events using cryptocurrency. This trend signals a tightening environment for the broader crypto and prediction market industry, potentially affecting market sentiment and user accessibility in multiple regions.