Core Insights - Polymarket has been blacklisted by Romania's National Office for Gambling (ONJN) for operating without a license, categorizing its activities as unauthorized gambling [1][2] - The ONJN emphasizes that the classification of Polymarket as an "event trading platform" does not exempt it from gambling regulations, as it involves counterparty betting [3][4] - The regulator is particularly concerned about the high volume of prediction market activity during local elections, with notable examples including over $16 million in volume for predicting the mayor of Bucharest and more than $370 million for an earlier electoral market [5] Regulatory Context - ONJN President Vlad-Cristian Soare stated that the decision to blacklist Polymarket is based on legal grounds rather than technological aspects, asserting that all forms of betting must be licensed [2] - The regulator warns that allowing a reinterpretation of counterparty betting as trading could undermine existing gambling and capital market regulations [4] Global Scrutiny - Polymarket has faced similar regulatory challenges in other regions, including a planned ban in France and a previous fine from the CFTC in the United States, which effectively restricted its operations [6] - Despite these challenges, Polymarket acquired derivatives exchange QCX, which has received a no-action letter from the CFTC, allowing it to resume activities in the U.S. [6] Financial Developments - Recently, Polymarket secured a $2 billion investment from Intercontinental Exchange, valuing the company at approximately $9 billion [7] - There is skepticism among respondents regarding the official announcement of a token by Polymarket, despite executive confirmation of plans for one [7]