Turkey blocks Polymarket as European clampdown on prediction markets intensifies

Turkey has blocked access to Polymarket after the National Lottery Administration (Milli Piyango İdaresi) ruled that the platform constitutes illegal betting. The move adds the country to a growing list of European jurisdictions that have restricted or outright banned prediction markets. Among those taking action are France, Germany, Belgium, Romania, Switzerland, Poland, the Netherlands, Greece, Italy, Portugal, Spain, Ukraine, and the Czech Republic.

Beyond classification disputes, Polymarket has faced allegations of market manipulation. The French regulator ANJ flagged a past weather-related market that triggered a local probe, in which an individual won $34,000 amid accusations that a temperature sensor had been tampered with. Those concerns have further fueled regulatory wariness across the continent.

Yet not every European jurisdiction is moving to shut down prediction markets. Gibraltar has introduced what Minister for Justice, Trade and Industry Nigel Feetham called a “world first” – a dedicated regulatory framework for prediction markets. This new regime, the first of its kind outside the United States, centers on market integrity, consumer protection, and fostering innovation, providing a licensed environment for the sector to operate.

In the U.S., prediction markets continue to face legal challenges. Several states have sued platforms such as Polymarket and Kalshi, alleging they offer unlicensed sports betting. At the same time, major Wall Street banks have updated their employee codes of conduct to ban bets tied to financial markets and political events, highlighting the growing scrutiny even in the private sector.