Portugal Orders Block on Polymarket Amid Suspicions of Election-Related Trading

On the 16th, the Portuguese gambling regulatory authority ordered the blocking of access to the decentralized prediction market Polymarket. According to local media, significant trading occurred in election-related markets just before the results of the presidential election were announced. The regulatory authority has taken issue with these activities. In the markets related to the Portuguese presidential election, over 110 million euros (approximately 20.4 billion yen) have already been traded. The presidential election in Portugal was held on the 18th with immediate counting. As no candidate secured a majority, a runoff vote is scheduled for February. Decentralized prediction markets are platforms based on blockchain technology that allow betting on future events, such as elections...