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Portugal bans Polymarket after flagging suspicious activity
Portugal’s Serviço de Regulação e Inspeção de Jogos (SRIJ) has ordered the shutdown of Polymarket within 48 hours after noting suspicious betting activity during the country’s presidential elections.
Following the January 18, 2026, presidential elections, Polymarket recorded over €4 million in bets just two hours before the release of the official results. A huge increase in betting odds for candidate António José Seguro raised initial concerns when the market turned in his favor right before the polls were to close.
The timing and size of the betting activity triggered the SRIJ to conduct an investigation, which concluded that Polymarket breached national law by offering political betting. Political events like national elections are strictly prohibited for betting in Portugal under the country’s 2015 online gambling law.
In contrast, Polymarket allows users to place bets on political outcomes and sports events, leaving it operating outside Portugal’s legal framework. The country doesn’t fully prohibit online gambling, but the iGaming market isn’t regulated either.
SRIJ has warned users that after Polymarket is blocked, they may lose access to funds, as the platform operates without the necessary consumer protections that licensed operators have.
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