The regulatory body issued Resolution No. 695 directing providers to restrict access to the platform, with the polymarket.com domain now listed in Ukraine’s public registry of blocked websites. However, enforcement has reportedly been inconsistent, with some users in the country still able to access the service.
War-Related Markets Trigger Regulatory Action
The blocking order comes amid growing controversy over Polymarket’s Ukraine-related prediction markets. The platform processed approximately 240 bets tied to the ongoing conflict in December 2025, with total volume exceeding $270 million. An additional 120 active markets related to the Russian invasion carried more than $140 million in open interest.
Ukrainian authorities specifically criticized the platform for hosting markets on territorial occupation, including bets on when specific cities might fall to Russian forces. The platform allegedly used the API from DeepState, a Ukrainian open-source intelligence project, without authorization to create real-time betting markets on front-line military developments.
Growing International Scrutiny
Ukraine now joins at least 33 other jurisdictions that have restricted access to Polymarket, including France, Germany, the United Kingdom, Poland, Singapore, Thailand, and Romania. Most countries cite concerns about unlicensed gambling operations, despite Polymarket’s classification as a peer-to-peer prediction market rather than a traditional gambling platform.
Regulatory pressure on the platform has intensified in recent weeks. U.S. Representative Ritchie Torres introduced legislation last week that would prohibit federal officials from trading prediction market contracts when they possess nonpublic information. The Public Integrity in Financial Prediction Markets Act of 2026 follows scrutiny over a $400,000 profitable bet on Venezuelan President Nicolás Maduro’s capture placed hours before U.S. military action.
Tennessee regulators issued orders on January 9 requiring Polymarket, Kalshi, and Crypto.com to cease sports betting contracts and issue refunds by January 31, citing unlicensed sports wagering violations.
Platform Background
Founded in 2020, Polymarket operates as a blockchain-based prediction market platform using USDC stablecoin on the Polygon network. The company carries an estimated valuation of $8 billion and has positioned itself as a decentralized alternative to traditional betting and forecasting services.
The platform’s model allows users to trade on the outcomes of future events, with market prices theoretically reflecting the collective probability assessments of participants. However, regulators in multiple jurisdictions have determined that this structure constitutes gambling under their respective legal frameworks.
Source: Yogonet
