Regulatory Crackdown: Unlicensed Platform Ordered to Halt
Portugal’s gambling watchdog, SRIJ, has issued a swift directive demanding a foreign-based blockchain-powered prediction platform cease all operations in the country within 48 hours. The move follows a surge in wagers tied to the outcome of the presidential election, with transaction volumes surpassing €103 million, raising serious regulatory concerns.
Legal Boundaries: Betting on Politics Is Off-Limits
Under Portuguese law, wagering on political outcomes is strictly prohibited. Only sports events, casino games, and horse racing are legally permitted. Any platform operating without a local license is barred from serving Portuguese users. Authorities stress that offshore platforms bypassing national regulations threaten market integrity and consumer protection.
ISP Blocking Looms on the Horizon
While the platform remains accessible in Portugal for now, regulators are actively considering measures to compel internet service providers to block access. This signals a broader push to strengthen control over cross-border digital gambling platforms exploiting legal grey zones.
- No gambling license held in Portugal by the platform
- Presidential election contracts triggered significant financial activity
- Local laws ban betting on real-world political events
- Network-level restrictions may be enforced soon