Ukraine has officially blocked access to Polymarket, marking another major regulatory crackdown on prediction markets. The National Commission for the Regulation of Electronic Communications classified the platform as unlicensed gambling on December 10, requiring all internet service providers to restrict access nationwide. The decision places Ukraine alongside 33 other countries that have banned Polymarket, intensifying global scrutiny of blockchain-based prediction platforms operating without traditional gambling licenses.
Ukraine Bans Polymarket Over Licensing Issues
The National Commission for the Regulation of Electronic Communications made it official on December 10. Their Resolution No. 695 puts Polymarket on the blacklist alongside other unlicensed gambling sites.
Internet providers across Ukraine now have to block polymarket.com. The domain landed on the country’s public register of restricted websites. Ukrainian users can’t access the platform anymore.
Here’s what makes this interesting. Polymarket doesn’t work like typical betting sites. Users buy and sell shares based on real-world events. The prices shift to reflect what the market thinks will happen. No fixed odds, no traditional bookmaker setup.
But Ukrainian authorities aren’t buying that distinction. They see betting; they see gambling. Simple as that.
Also Read: What Is Polymarket? Why It Matters In 2026
War-Related Bets Sparked Controversy
The ban didn’t come out of nowhere. Ukrainian officials have been pretty vocal about Polymarket hosting markets on the Russia-Ukraine conflict. People were literally betting on war outcomes.
That didn’t sit well with Kyiv. When your country’s fighting an invasion, seeing foreigners profit off predictions about your survival hits different.
Polymarket isn’t new to restrictions though. The platform can’t operate in 33 other countries, including France, Germany, and the UK. Australia, Singapore, and North Korea also ban it. Ukraine just joined a pretty long list.
How Polymarket Actually Works
Shane Coplan launched Polymarket back in 2020. The platform has grown fast and now carries an estimated $8 billion valuation.
Everything runs on blockchain. Users place bets using USDC stablecoin on the Polygon network. That makes every transaction public and verifiable. You can literally track every bet on the chain.
The platform gained massive attention during the 2024 US presidential election. Trading volume exploded as people bought shares on the Trump versus Harris outcomes. Some traders made millions calling the results correctly.
Also Read: The Dark Side Of Polymarket In 2026: When Truth Becomes Dangerous
US Regulators Also Watching Closely
Ukraine isn’t alone in scrutinizing prediction markets. American lawmaker Ritchie Torres is working on new legislation right now.
His Public Integrity in Financial Prediction Markets Act of 2026 would ban insider trading on these platforms. Federal employees and political appointees couldn’t trade contracts if they had nonpublic information.
This came after someone made huge profits betting on Venezuelan President Nicolás Maduro’s capture. The timing looked suspicious. Torres wants to close that loophole.
Tennessee went even further last week. The state’s sports betting regulator ordered Kalshi, Polymarket, and Crypto.com to stop offering sports contracts to Tennessee residents immediately.
Regulatory Pressure Mounts Worldwide
The regulatory noose is tightening globally. Governments are figuring out how to classify these platforms. Most are landing on gambling rather than financial instruments.
That creates problems for the entire prediction market sector. If you’re classified as a gambling, you need licenses in every jurisdiction. That’s expensive and complicated. Many countries don’t even have clear frameworks yet.
Polymarket’s blockchain foundation doesn’t help much here. Sure, it provides transparency. But regulators don’t care about decentralization when they see unlicensed betting.
The platform will likely continue operating in permitted regions. But each new ban chips away at their potential user base. Thirty-four countries blocking access adds up fast.
For now, Ukrainian users wanting to trade prediction markets will need VPNs or alternative platforms. The government made its position crystal clear: prediction markets equal gambling, and gambling needs licenses.
Also Read: Polymarket Exposed – 25% of Volume Artificial, Columbia Study Claims
Why did Ukraine ban Polymarket?
Ukraine classified Polymarket as unlicensed gambling. The regulator found the platform violated national laws by operating without proper gambling licenses.
Can Ukrainians still access Polymarket?
No. Internet providers must block the domain following Resolution No. 695. The site appears on Ukraine’s public register of blocked websites.
How many countries ban Polymarket?
Polymarket faces restrictions in 34 countries total now. Major markets like France, Germany, UK, and Australia already blocked access before Ukraine.
What’s the difference between Polymarket and regular betting?
Polymarket users trade shares on event outcomes with floating prices. Traditional betting uses fixed odds from bookmakers. Ukrainian regulators see no meaningful distinction.
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