Dutch authorities order Polymarket arm to cease activities

Dutch authorities ordered Polymarket's Dutch arm, Adventure One, to cease its activities immediately or face fines of up to $990,000. The Netherlands Gambling Authority said Adventure One offered gambling to residents without a license, including illegal bets on local elections, and had not responded to requests to address these activities.

Ella Seijsener, the authority’s director of licensing and supervision, said, "Prediction markets are on the rise, including in the Netherlands." She added that 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 face similar scrutiny in the United States, where many individual state authorities have filed lawsuits over sports gambling.

The chair of one federal financial regulator, the Commodity Futures Trading Commission, said he would defend the agency’s "exclusive jurisdiction" over prediction markets and criticized state-level action.

Netherlands

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