The US platform Polymarket is once again under the magnifying glass. After earlier media criticism, the CDA in the Lower House has now also sounded the alarm. MP Derk Boswijk put 14 questions to State Secretary Arno Rutte of Justice and Security.
The reason? The open statements of entrepreneur Alexander Klöpping in a podcast. There, he mentioned that he had won €8,000 with a bet on the Dutch election result via Polymarket. This is remarkable because the platform operates in the Netherlands without a licence.
Political betting and crypto cause concern
Polymarket is a so-called “prediction market” where users can bet on the outcome of social and political events with crypto tokens. Such as during the Dutch elections in October. And that while political gambling is prohibited in the Netherlands – even for legal providers.
The Kansspelautoriteit (Ksa) confirmed that the platform was operating without a licence. Yet Dutch citizens could easily create an account there. According to Boswijk, this kind of online behaviour normalises illegal gambling. Moreover, he fears that young people will drift more quickly towards addiction.
Belgium seems better prepared here. There, Polymarket has been under the magnifying glass for some time. Boswijk therefore wonders why the Netherlands is not taking a similar approach. He wants to know whether the state secretary is considering a Belgian approach.
Belgian market should also stay alert to crypto and predictions
Although this is mainly a Dutch case, experts in Belgium also warn about the dangers of prediction platforms. Especially since crypto money is difficult to trace and is increasingly used to circumvent existing regulations.
In that respect, this issue fits into a broader trend where gambling companies are still reaching players via digital detours. The platform Polymarket has long been active in the US market, always pushing the boundaries of the law.
Boswijk wants the media too to take responsibility. He asks the secretary of state whether there will be talks with podcasts and influencers who inadvertently advertise such services.