Ukraine Blocks Polymarket, Classifies Prediction Markets As Gambling

Authored by Amin Haqshanas via CoinTelegraph.com,

Ukraine has blocked access to the prediction market platform Polymarket, classifying its activities as unlicensed gambling under national law.

The decision was issued by the National Commission for the Regulation of Electronic Communications (NCEC) on Dec. 10, 2025, under Resolution No. 695. The ruling requires internet service providers to restrict access to online resources that organize, conduct or facilitate gambling without a valid license.

As part of the enforcement, the domain polymarket.com has been added to Ukraine’s public register of blocked websites, effectively cutting off local access to the platform, local news outlets reported on Monday.

Polymarket differentiates itself from traditional betting sites by allowing users to buy and sell shares tied to the outcome of real-world events, with prices reflecting market-implied probabilities, rather than offering fixed odds.

Ukraine slams Polymarket over war-related bets

The ban on Polymarket comes as Ukrainian authorities have criticized the platform for facilitating bets on geopolitical events linked to Russia’s invasion.

Polymarket is restricted across 33 other countries, including France, Germany, the United Kingdom, Italy, Poland, Belgium, Iran, Singapore, Iraq, North Korea, Thailand, Taiwan and Australia.

Polymarket already blocks some regions in Ukraine. Source: Polymarket

Founded in 2020 by Shane Coplan, Polymarket has grown into one of the most prominent prediction platforms globally, with an estimated valuation of $8 billion. All bets on Polymarket are placed using the USDC  stablecoin on the Polygon blockchain, making transactions and settlements publicly verifiable.

US lawmaker looks to ban insider trading on prediction markets

As Cointelegraph recently reported, US Representative Ritchie Torres is preparing legislation that would restrict insider trading on prediction markets, following scrutiny over a highly profitable bet linked to the capture of Venezuelan President Nicolás Maduro.

The proposed measure, known as the Public Integrity in Financial Prediction Markets Act of 2026, would bar federal lawmakers, political appointees and executive branch employees from trading contracts tied to political or policy outcomes when they possess nonpublic information gained through their official roles.

Last week, Tennessee’s sports betting regulator also ordered Kalshi, Polymarket and Crypto.com to halt the offering of sports event contracts to residents of the state.