Ukraine Banned Polymarket: The Legal Deadlock for Web3 Prediction Markets

2026-01-24 17:28:25

Source: CryptoNewsNet Original Title: Ukraine banned Polymarket and there’s no legal way for it to come back Original Link: There is no legal way for Web3 prediction markets to operate in Ukraine under current laws, according to a senior official involved in shaping the country’s digital economy policy.

Days after Ukraine blocked access to Polymarket and nearly 200 gambling-related websites, Dmitry Nikolaievskyi, chief legal officer at the Project Office for the Development of Ukraine’s Digital Economy at the Ministry of Digital Transformation, revealed a deadlock for Web3 prediction markets in the country.

Nikolaievskyi said that while the decision to ban Polymarket followed existing legal procedures, the underlying problem is that the country’s legal framework doesn’t recognize prediction markets at all.

“Ukrainian legislation does not contain such a concept as ‘prediction markets,’” Nikolaievskyi said. He added that a long-delayed law “On Virtual Assets” is necessary for companies, not just individuals, to operate legally using crypto.

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