Portugal orders Polymarket to cease operations within 48 hours

Portugal's gambling regulator has ordered the cryptocurrency prediction market platform Polymarket to halt its operations in the country within 48 hours, CoinDesk reported. The agency stated that it had identified over $120 million in wagers on the platform related to the outcome of the Portuguese presidential election, warning that betting on domestic political issues is illegal. Separately, Hungarian authorities also recently blocked access to Polymarket's domain, citing illegal gambling activities. That restriction will remain in place until the regulators complete their review. Polymarket currently faces access restrictions in approximately 30 countries, including Singapore, Russia, Belgium, Italy, and Ukraine.