Dutch Regulator Orders Polymarket Arm to Halt Operations
The Netherlands Gambling Authority said in a Tuesday notice that it imposed a penalty on Polymarket’s Dutch subsidiary, Adventure One, for offering gambling services to residents without a license. The regulator ordered the company to “cease its activities immediately” or face fines of up to $990,000. Authorities said Adventure One violated Dutch law by offering prohibited bets, including on local elections, and had not responded to requests to stop these activities.
Ella Seijsener, the authority’s director of licensing and supervision, said prediction markets are becoming more prevalent in the Netherlands and that such companies offer bets that are not permitted in the regulated market under any circumstances, including by licensed operators.
Polymarket and other platforms that list event contracts have faced similar scrutiny in the United States, where multiple state authorities have brought actions related to sports betting. On Tuesday, the chair of the Commodity Futures Trading Commission said he would defend the agency’s exclusive jurisdiction over prediction markets and criticized state-level enforcement.
On Feb. 9, Polymarket’s chief legal officer, Neal Kumar, said the company welcomes dialogue with states while federal courts consider questions of jurisdiction in the United States.
Dutch crypto tax plan clears House of Representatives
The enforcement action in the Netherlands came within a week of the country’s House of Representatives advancing a proposal to introduce a 36% capital gains tax on investments likely to include cryptocurrencies. If approved by the Senate and signed into law, the measure could take effect as early as 2028.
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