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Polymarket, the decentralized crypto-based prediction market platform, has been blocked in Portugal and Hungary following regulatory determinations that its event-contract trading constitutes unauthorized gambling. The Portuguese Gaming Regulatory Authority (SRIJ) and Hungary’s Supervisory Authority for Regulated Activities issued the restrictions, citing a lack of licensing and prohibitions on betting related to political events. The moves underscore growing European regulatory pressure on blockchain-enabled betting products.

The crypto casino sector outside the US continues evolving with a stronger emphasis on licensing flexibility, crypto-native operations, and enhanced blockchain efficiency.

Risk is often treated as a single concept in crypto. In practice, it comes in very different forms depending on whether exposure comes from gambling or investing.