The independent research desk for prediction markets and crypto.
Research articles, regulatory intelligence and live order books on Polymarket, Kalshi and the crypto exchanges.
- Regulators on the record18in writing: 17 in Europe, 1 in the US
- Lawsuits, checked against the court record71
- Midterm contracts frozen before the vote13,186
- Polymarket traders, with their records80,000
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27European jurisdictions with a public entry on recordPrediction markets20 min readRegulatory actions on Polymarket and Kalshi in Europe
Seventeen European countries have ordered Polymarket blocked or blacklisted it. Eleven of them are missing from Polymarket's own restrictions list, and only three of the blocks have been tested on real networks. The dated record covers 27 jurisdictions and the written answers of sixteen regulators.
Prediction markets5 min readHow Polymarket Makes Money: $46.6 Million in Taker Fees in Four Months
Polymarket charged no trading fees in 2025. From 1 January to 28 April 2026 takers on its international exchange paid an estimated $46.6 million, $28.4 million of it in April, two thirds on crypto markets. Fees by month and category, the schedule behind them and its other revenue.
Prediction markets9 min readSettlement times of 110,576 Polymarket markets, 15 August to 10 September 2026
Vultax measured every Polymarket market that ended between 15 August and 10 September 2026. Most settled within hours of their scheduled end, 37% closed early because the result was already known, and 89 were disputed, rare overall but most common on geopolitics and big markets.
Latest reporting
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RegulationFrance Blocked Polymarket After 578,751 French Visits in a Month
578,751Visits to Polymarket from France, June 2026
RegulationDenmark's Polymarket Block Stands While the Appeal Is Pending
No. 97 of 98polymarket.com on Denmark's July 2026 block list
RegulationSwitzerland Blocked Four More Domains Carrying Polymarket's Name
216Entries added to Gespa's blocklist in 2026
Regulatory intelligence · Europe
One map. The document behind each action.
Prediction-market regulation, country by country: authority actions, written replies and observed access to Polymarket and Kalshi. Select a country to see what the evidence says.
Click or tap a country; use arrow keys within the map, or the country selector. Small jurisdictions use point markers. Grey does not mean permitted.
Boundaries: Natural Earth. EU-wide rules are in the EU record.
Czechia
3 recorded actionsLatest recorded action · 23 Oct 2026
Told Vultax that neither Polymarket nor Kalshi had objected or appealed; payment providers have a standing duty concerning accounts on the blacklist, without individual instructions; the Ministry and, above all, the Customs Administration check on their own initiative and investigate complaints from the public; the reply names no account for either platform
Published written response
- Written reply
- Ministry of Finance · 2026-10-23
Neither operator has objected or appealed. Payment duties attach to listed accounts, without individual instructions. - Polymarket’s own policy
- Not listedDocumentation checked 2026-10-23; access not tested.
- Observed network access
- No OONI observations in this dataset. Access unknown.
Dated evidence, with each source’s own cutoff. Access observations cover 21 July–19 October 2026. This map is not a determination of lawful access.
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Who it is for
Built for the people who write about, study, run and regulate these markets.
Work with us →The regulators, on the record.
17 of Europe's authorities are on the record with us about prediction markets, and counting. 14 country reports, below, are based on those written replies; the full country record keeps them all.
- NorwayGambling and Foundations AuthorityBoth polymarket.com and kalshi.com are in a notice of an intended DNS-blocking decision; the cases are being processed.
- PolandMinistry of Finance23 prediction-market domains are in the register; no objection was filed against the polymarket.com or kalshi.com entries.
- SloveniaFinancial AdministrationGambling activities are taking place on polymarket.com and kalshi.com; neither site holds a Slovenian concession.
- FinlandNational Police BoardNo measures against Kalshi or Polymarket; prediction markets have been assessed at the phenomenon level.
- SwedenSpelinspektionenNo investigation or prohibition of Polymarket or Kalshi; licensing depends on the activity and market.
- BelgiumKansspelcommissieNo payment-provider instructions for either operator; reports on blocking effectiveness can be followed up.
- European UnionESMAThe September report does not estimate EU retail participation; API data reflect global trading.
- United KingdomFCAIts Perimeter Report position has not changed; consumers can check firms on the FCA tools.
- CzechiaMinistry of FinanceNeither operator has objected or appealed. Payment duties attach to listed accounts, without individual instructions.
- LatviaState Revenue ServicePolymarket's website is blocked; payments to its operator are not. Two Kalshi companies are on the payment list.
- MaltaMalta Gaming AuthorityPrediction markets may fit Type 2 fixed-odds or Type 3 peer-to-peer licences; individual applications remain confidential.
- GermanyGGLProceedings confirmed against Polymarket and Kalshi. Election bets cannot be licensed.
- SpainDGOJWhether Polymarket is blocked depends on your network. We measured it.
- LithuaniaGaming Control AuthorityPolymarket subject to access and payment measures; no official data or decisions on other prediction-market sites.
The charter. Open methods. Open data. No positions on any market we measure. Who paid for what, on the page.
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How figures are computed is in the methodology. Anything else: contact.
- What is Vultax Research?
- A research body in Tallinn that measures prediction markets and crypto markets and publishes what it finds, with a terminal that shows the same markets live.
- How is it funded?
- Vultax is independently owned and self-funded. Our public articles, terminal and research tools are currently free to access. We welcome institutional enquiries about research, data and recurring measurements. Any future paid work will follow our published independence and disclosure rules.
- Does Vultax trade?
- No. We hold no positions on any market we measure. The terminal trades on paper only.
- Can I use the data?
- Yes, with a link to the article. Data we hold under licence is shown within that licence and says so.
