Lithuania has taken steps to block Polymarket, a prediction markets platform, after determining that it was offering unlicensed online gambling services. This decision came from the Gambling Supervisory Authority, which operates under the Ministry of Finance. The blocking order was authorized by the Vilnius Regional Administrative Court.
The authority stated that this action was necessary to prevent any attempts to circumvent regulations on illegal remote gambling by restricting access to the platform through internet service providers. With this move, Polymarket becomes the first prediction market site to be blocked in Lithuania.
As part of its investigation, the authority created and funded an account on Polymarket, placing wagers on various sports events. Findings from this probe indicated that Polymarket's operations constituted illegal gambling, as the platform lacks a valid gambling license in Lithuania. The court supported the authority's conclusions, backing the actions mandated for internet service providers to restrict access to the site.
