• Dutch authorities call on Polymarket arm to cease activities The prediction market’s Dutch arm, Adventure One, allegedly offered illegal bets, including on elections in the Netherlands. • Cointelegraph in your social feed The Netherlands Gambling Authority said it imposed a penalty on prediction markets platform Polymarket’s Dutch arm, Adventure One, for offering gambling to residents without a license. • In a Tuesday notice, Dutch authoritiesorderedthe Polymarket company to “cease its activities immediately,” or face up to $990,000 in fines. • According to authorities, Adventure One was in violation of Dutch law for offering illegal bets, including those on local elections, and the company had not responded to requests to address these activities. • “Prediction markets are on the rise, including in the Netherlands,” said the Netherlands Gambling Authority’s director of licensing and supervision, Ella Seijsener. • “These types of companies offer bets that are not permitted in our market under any circumstances, not even by license holders.” Polymarket and other platforms offering event contracts on prediction market platforms face similar scrutiny in the United States, where many individual state authorities have filed lawsuits over sports gambling.
Article Summaries:
- The Netherlands Gambling Authority fined Polymarket’s Dutch subsidiary, Adventure One, for offering unlicensed gambling to residents. In a notice issued Tuesday, the regulator ordered the company to cease operations immediately or face fines of up to $990,000. Authorities say Adventure One violated Dutch law by selling illegal bets, including on local elections, and has not responded to requests to stop the activity. The move comes amid growing scrutiny of prediction‑market platforms in the Netherlands and the United States. Dutch lawmakers are also advancing a 36 % capital‑gains tax on crypto investments that could take effect in 2028.
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