Dutch keep betting on current events despite ban on leading crypto betting platform
Dutch residents continue to bet on current events through cryptocurrency prediction markets even after the Dutch Gambling Authority blocked access to the leading American platform, Polymarket.
At least three other major services — the American gambling site Kalshi, the crypto exchange Hyperliquid, and brokerage giant Interactive Brokers — still offer these prediction markets to users in the Netherlands, according to a review by the financial newspaper FD.
The Dutch Gambling Authority banned Polymarket in February for operating without a required gambling license. Dutch users had wagered more than 27 million euros on Polymarket, mostly on markets involving Dutch political parties and politicians.
The platform let users bet on events such as the winner of Amsterdam’s municipal elections or whether Jesus Christ would return by year-end.
The vast majority of speculators are reported to lose money. They also risk falling victim to market manipulation and insider trading.
The regulator declined to comment on the ongoing investigations. “But I can say in a general sense that websites similar to Polymarket also fall under our supervision and thus can be sanctioned by us,” the spokesperson stated.
