Lithuania has ordered the blocking of Polymarket, as the gambling regulatory authority in the nation concluded that the prediction markets platform was providing unlicensed online gambling services.
This decision was made by Lithuania’s Gambling Supervisory Authority, which functions under the guidelines of the Ministry of Finance. The orders to block Polymarket were issued after it was approved by Vilnius Regional Administrative Court.
The authority stated that this action “has prevented the attempt to bypass illegal remote gambling restrictions” by blocking the access to the site through internet service providers.
Polymarket is the first site of prediction markets in Lithuania to be blocked.
As part of the probe, the authority opened and funded an account in Polymarket and placed fixed-odds wagers on sports events.
As a result of the investigation, the authority concluded that the activities represented illegal gambling practices since Polymarket does not own gambling license in Lithuania.
The court acknowledged the findings of the authority and justified all measures directed to internet service providers for the conduction of access.
