Polymarket becomes first prediction market to be blocked by Lithuanian regulator

Lithuania’s gambling authority has blocked Polymarket following the predictions platform’s attempts to “circumvent restrictions on illegal remote gambling”.

The operator is the first in its sector to be restricted by Lošimų priežiūros tarnyba (LPT) as the regulator views its operations as a cover for illegal gambling.

It’s far from the first jurisdiction to restrict access to Polymarket, though.

Last month, South Korean authorities moved to block access to the platform following a dispute and review that lasted for over a month.

Polymarket’s presence in Europe has been massively minimised as several jurisdictions’ regulators have forbidden citizen access.

Countries including France, Spain, Germany, Italy and the Netherlands, to name a few, have taken action against the operator.

European hopes for the US giant may rest in Gibraltar, where a regulated prediction markets framework has been established, and the UK, with the Financial Conduct Authority (FCA) set to review whether c..

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