[NEWS]Netherlands Bans Polymarket Over "Illegal Gambling Services"

[yahoo62278]

I dont use polymarket and likely never will but I'm probably gonna have to agree that it is a gambling platform abd they are just trying to use a loophole to bypass restrictions in some areas by saying prediction platform.

What i dont agree with is telling people how they can or cannot spend their money. If someone wants to use the platform then let them.

[Alphakilo]

The predictions market, unlike any gambling platform out there, exist to make money. Irrespective of what they define their terms of operations to be. All they must do to exist within a country these days is to get the right license, pay the supposed taxes and try to expand. Wherein they aren't fulfilling any of these, they start having such problems with the government for many reasons possible.
It's just so unfair that Polymarket had to become popular, because this is the problem that comes when a business is distinct in service but not controlled by the government.

[bangjoe]

Polymarket is indeed an article of gambling that we have already realized before where we can bet on predictions in the Polymarket, the prediction market claim is just another word for future betting, as long as we can bet there then it is a place to gamble.
The Dutch decision is indeed correct because they also definitely act according to the regulations that already exist there, there are many strange things about betting on Polymarkets so perhaps the Dutch government will ensure that its citizens can remain safe from very random predicted bets on Polymarkets and can avoid schemes carried out deliberately by certain people to take advantage of bettors on Polymarkets.

[Alpha Marine]

Polymarket is a gambling market. There is no doubt about that. All the mental gynastics doesnt change that.

My question about Polymarket is how easy or difficult it is to cheat. Stuff like insider information, for example, can be very common.
Let's use the Oscars as an example. If I work there and I know the winners, can't I simply make bets on certain outcomes and make money from it?

I saw a video of people who voted for the MVP of teh superbowl to say, "I want to give thanks to God" in his speech. What if his friends agree with him to say a certain thing and they bet on it and make moeny? Or what if he bets on it himself?
These are just the questions ive always had about it.

[passwordnow]

The same idea with the exchanges like Binance, they've been asked to get licenses from the countries where they are operating and have a lot of userbase. So, whether polymarket is a gambling platform or a prediction market for as long as it's serving people from these countries like the Netherlands, they'll have to get registration from the government. It all leads to the taxes and the fees that be sucked from them by any government that will look upon it. Now, thanks to them that the other countries now have an idea if ever they see a wide number of their citizens who uses them.

[Wakate]

This is a big joke and I don't understand why the government of these countries not only Netherland but France and many of the European countries had banned it while citizens can still outsmart the government by making use of VPN.
I don't see any reason why it should be banned unless they don't want a gambling or prediction platforms to operate in their region.
Users that are from the banned countries can access the platform through other means.

[Slow death]

Well, what Polymarket needs to do is very simple: hire a lawyer in the Netherlands to handle the entire regulatory process and start operating legally in the Netherlands, or follow the instructions of the Dutch government and not provide its services to Dutch citizens. Obviously, hundreds of Dutch citizens will be using the site clandestinely. But in that case, the fault will lie entirely with the citizen and not the site, because the site will clearly state in its Terms of Service that access is prohibited to Dutch citizens.