Restoring access to Polymarket requires platform to obtain license – PlayCity Ukrainian gambling agency
The State Agency for the Regulation of Gambling and Lotteries, PlayCity, has explained that access to the Polymarket prediction platform is restricted in Ukraine because the platform includes functionality that corresponds to the characteristics of bookmaking activities, which makes it subject to mandatory licensing.
"Ukrainian legislation clearly defines the characteristics of gambling. If a platform in fact allows betting on events, it falls under regulation as bookmaking activity, which requires a license to operate," Hennadiy Novikov, head of the state agency, told Interfax-Ukraine in a comment.
PlayCity said, that the approved decision is a regulatory measure aimed at protecting Ukrainian users and ensuring compliance with the legal framework of the gambling market.
"Restoration of access to the platform is possible exclusively after the identified violations are eliminated, or after betting from the territory of Ukraine is made impossible, or after obtaining a license to operate in Ukraine," the state agency added.
The agency also noted that the platform allowed betting on events with the possibility of using cryptocurrency, which is a prohibited method of participation in gambling under Ukrainian law.
The owner of the web resource may submit an application to PlayCity and to the National Commission for the State Regulation of Electronic Communications and Postal Services (NCEC) to fully block the possibility of participating in betting for users.
"In that case, access may be left exclusively for viewing publicly available information," the agency explained.
As reported, the Polymarket domain has been added to the open register of prohibited internet resources due to the lack of a license to conduct gambling activities, and the relevant NCEC resolution has entered into force.
Founded in 2020, Polymarket allows users to place cryptocurrency bets on the outcomes of certain events, ranging from politics and sports to popular culture. The company is privately held, and its investors include Peter Thiel’s venture capital fund, Founders Fund.
According to Forbes Ukraine, as of December 24, 2025, around 240 bets related to Ukraine had been settled for a total amount exceeding $270 million, while 120 bets worth more than $140 million remained active.