Czech Ministry of Finance bans betting platform Polymarket
The Ministry of Finance of the Czech Republic decided on Monday to add the popular prediction platform Polymarket to the list of prohibited internet games. This move means that the platform's operator does not hold the necessary license in the Czech Republic to legally offer betting services.
Polymarket is an international website where people bet on the outcomes of various events, such as election results or the progress of sports matches. The platform uses cryptocurrency technology, which allows it to operate globally without traditional banking systems.
According to the authority's decision, internet service providers in the Czech Republic must block access to these pages. The entire technical blocking process should be completed no later than 15 days from the issuance of the ministry's decision.
With this step, the Ministry of Finance is responding to efforts to regulate the gambling market and protect Czech users. Users who have funds on the platform should be cautious, as access to their accounts from Czech territory will soon be disabled.