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>>Polymarket Encounters New Challenge as Dutch Regulator Prohibits Predictive Market Activities — Here's What You Need to Know

Polymarket Encounters New Challenge as Dutch Regulator Prohibits Predictive Market Activities — Here's What You Need to Know

crypthub

about 8 hours ago

Regulatory Crackdown on Polymarket in Netherlands

The Netherlands Gambling Authority ordered Polymarket’s Dutch arm, Adventure One, to cease operations or face $840,000 weekly fines. The regulator claims Adventure One offered unlicensed bets on local elections, classifying prediction markets as gambling despite their distinct nature. No corrective actions from Polymarket have been reported, with authorities emphasizing that unlicensed entities cannot operate in the market.

Jurisdictional Challenges for Prediction Markets

Polymarket faces ongoing regulatory hurdles, including U.S. state-level scrutiny despite CFTC approval. The CFTC chair criticized state actions for undermining federal oversight of prediction markets. These jurisdictional conflicts complicate the platform’s compliance and expansion efforts globally.

Dutch Capital Gains Tax Proposal for Crypto

A week after the Polymarket crackdown, the Dutch House of Representatives advanced a 36% capital gains tax on crypto and other investments. The tax would apply to unrealized gains, prompting concerns from analysts that it could drive investors away. Critics argue the policy is impractical and may deter talent and capital from the Netherlands.