Polymarket double play: US comeback gains steam as Romania bans platform for illegal betting

While prediction platform Polymarket is gearing up for a high-profile return to the U.S. market, regulators in Romania are taking a harder line.

Romania’s National Office for Gambling (ONJN) effectively banned the betting service from operating in the country.

The regulator said the Shayne Coplan-led company was carrying out gambling activities without a license and, as of Thursday, placed the website on its blacklist. See below.

Summary

• Polymarket’s contrasting fortunes highlight the global regulatory patchwork facing blockchain-based betting platforms — hailed in the U.S. as a potential disruptor of traditional sportsbooks.
• Yet, it’s blacklisted in Romania as an unlicensed gambling operator.
• Whether its next act in the U.S. cements its legitimacy or invites new scrutiny remains to be seen.

Romania draws a line between ‘trading’ and ‘betting’

Soare says the ONJN “will not allow the transformation of blockchain into a screen for illegal betting.”

ONJN argued that while Polymarket promotes itself as an “event trading platform,” its structure constitutes counterparty betting, since users stake funds against each other on future outcomes.

“Accepting the idea that a ‘counterparty betting’ system can be called ‘trading’ would create a dangerous precedent,” the regulator said, warning that it could allow operators to evade gambling and financial market laws — particularly during sensitive events like national elections.

U.S. return targets sports betting

Meanwhile, Polymarket is preparing a U.S. relaunch with a licensed, sports-focused product designed to comply with American gambling regulations. The company plans to prioritize high-volume sporting events such as the NFL, NBA, and other major leagues, with a limited rollout expected in November.

Market reaction suggests traders are taking the threat seriously. Shares of DraftKings and Flutter Entertainment fell 5% and 3% respectively, following the news of Polymarket’s return.

The comeback follows Polymarket’s acquisition of QCX, a Florida-based exchange holding a Commodity Futures Trading Commission (CFTC) license — a move that gives it a regulatory foothold to offer event contracts.

The company also secured a no-action letter from the CFTC, signaling that the agency does not plan to take enforcement action if Polymarket stays within defined compliance boundaries.