Ukrainian officials have confirmed that prediction markets like Polymarket face a legal deadlock due to the absence of a regulatory framework. Dmitry Nikolaievsky, chief legal officer of the Digital Economy Development Project Office, stated that Ukraine’s current laws do not recognize Web3 prediction markets, making it impossible for platforms like Polymarket to resume operations legally. This follows Ukraine’s recent decision to block Polymarket and nearly 200 gambling-related websites, with legal reforms unlikely in the near term due to the wartime parliament’s constraints.
With parliament preoccupied by wartime matters, expectations for near-term regulatory reforms appear dim. The decision reflects ongoing regulatory tension between cracking down on gambling-adjacent services and the absence of formal recognition for Web3 markets in Ukrainian law. The situation highlights regulatory risk for Web3 services in Ukraine, signaling potential constraints for crypto-related platforms as lawmakers navigate wartime priorities.
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