Portugal's gambling regulator has ordered the blocking of Polymarket, a crypto-based prediction market platform, following a spike in election-related betting ahead of the official presidential results. The Portuguese Gaming Regulation and Inspection Service (SRIJ) determined that Polymarket is unauthorized to operate in the country and that political betting is illegal under national law. After giving Polymarket 48 hours to cease operations, the site remained accessible, prompting regulators to consider network-level blocking. The decision came after over €4 million (approximately $4.3 million) was wagered on Polymarket's presidential markets shortly before the election results were announced. Concerns arose that the heavy betting volume could be linked to leaked exit polls or other undisclosed information. In total, trading on the main presidential market surpassed €110 million (about $119 million). Portuguese authorities, who only recently became aware of Polymarket, stressed that they oversee only licensed operators and warned users that their funds may not be recoverable once the platform is blocked.