Josh Andrews

Global Crypto Prediction Markets May Face Scrutiny as Romania Blacklists Polymarket

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Romania’s National Office for Gambling (ONJN) has officially blacklisted Polymarket, one of the world’s largest blockchain-based prediction markets, accusing it of operating as an unlicensed gambling platform during the country’s recent presidential and municipal elections.

Authorities reported that during the elections, crypto-based wagering on Polymarket surged past $600 million, raising red flags about the platform’s compliance with national gambling laws. Despite its blockchain foundation, regulators ruled that Polymarket’s operations squarely fall under Romania’s gambling framework.

Far-Reaching Implications

Romania’s crackdown adds to a growing list of international actions against Polymarket. The United States, France, Belgium, Poland, Singapore, and Thailand have all restricted or fined the platform for operating without proper authorization.

In 2022, the U.S. the Commodity Futures Trading Commission (CFTC) fined Polymarket $1.4 million for running unregistered derivatives markets and required it to block American users. Regulators across these regions share a common concern. That is, decentralized prediction markets blur the line between financial trading and gambling, often without sufficient oversight.

Despite these challenges, Polymarket has continued to expand its global footprint and investor appeal. The Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, invested $2 billion in Polymarket in mid-2025, which was a strong sign of the growing interest in blockchain-powered betting platforms even amid legal uncertainty.

What Now?

Well, regulators argue that decentralized markets like Polymarket, which allow users to speculate on real-world outcomes using crypto, blur the line between trading and gambling. Authorities warn that unlicensed “counterparty betting” platforms can facilitate money laundering, evade taxation, and lack consumer safeguards that protect players in traditional betting systems.

ONJN officials stressed that technological innovation does not exempt operators from national law. The agency fears that without oversight, blockchain-based prediction markets could disguise gambling as financial speculation, undermining decades of established gaming regulation.

Meanwhile, Polymarket continues to position itself as an “information market” rather than a gambling operator, aiming to re-enter the U.S. market under a regulated framework by late 2025. Still, it could extend beyond that.

As more countries draw lines between crypto trading and online gambling, Polymarket’s fate could shape the future of decentralized prediction markets. If the platform succeeds in achieving regulatory legitimacy, it might pave the way for a new era of compliant blockchain betting. Further growth of these decentralized prediction markets will depend on whether these platforms can bridge the gap between innovation and compliance. This is a balance that will define the next phase of crypto wagering worldwide.

Elantil Bets Big on Online Poker with EvenBet Partnership

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Elantil, a next-generation iGaming technology company, has made a strategic move into the fast-growing world of crypto poker through a new partnership with EvenBet Gaming. The collaboration introduces Elantil’s first poker product to its online marketplace, positioning the company at the intersection of digital innovation, blockchain adoption, and online entertainment.

It all comes at a time when cryptocurrency is reshaping how players engage with online poker. By integrating EvenBet’s award-winning platform, Elantil now enables operators to offer seamless poker experiences that support major digital currencies such as Bitcoin and Ethereum. That means players can enjoy access to faster transactions, enhanced privacy, and borderless gameplay across multiple jurisdictions.

Leveraging A Crypto-Ready Poker Ecosystem

EvenBet Gaming brings over two decades of experience powering online card rooms across global markets. Its software currently serves 200 operators and 72 million players in 41 countries, with more than 40 poker variants available, including popular mixed games like Omaha Hi/Lo and H.O.R.S.E.

Crucially, the system’s cryptocurrency compatibility allows operators to connect with new demographics. This is especially true for the growing segment of Bitcoin poker enthusiasts seeking alternatives to fiat-based platforms. This takes poker from a traditional game of skill to a global, decentralized entertainment experience.

The integration also grants Elantil’s partners access to EvenBet’s shared network, allowing them to launch independent poker rooms or join existing pools that share player databases and tournaments. This liquidity model increases engagement, ensures vibrant competition, and enhances profitability for both operators and players.

Built to Grow

Elantil’s marketplace was built to connect iGaming operators directly with trusted software providers, offering a customizable and transparent contracting model. According to John Debono, Chief Technical Officer at Elantil, the integration represents a flexible and cost-effective way for operators to enter the booming online poker and crypto gaming sectors.

EvenBet Gaming CEO Dmitry Starostenkov described the collaboration as a strong vote of confidence in his company’s technology. He noted that being the first poker provider featured on Elantil’s marketplace underscores a shared commitment to scalability, reliability, and innovation.

Crypto.com’s Blockchain Betting Ambitions Hit Legal Roadblock in Nevada

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Crypto.com’s ambitious plans to enter the U.S. sports betting market have encountered a major obstacle after a Nevada federal court judge denied the company’s request to continue offering sports prediction contracts in the state.

The Singapore-based exchange, best known for its global cryptocurrency trading platform and partnerships with major sports brands, has been seeking to integrate blockchain technology into sports wagering. By introducing smart contract-based sports outcome markets, Crypto.com hoped to establish a regulated foothold in multiple U.S. jurisdictions. One of the markets the company was planning on starting with was Nevada, a state long considered the epicenter of legal gambling in America.

A Case of Interpretation?

In a ruling that caught industry observers off guard, U.S. District Judge Andrew Gordon refused to grant Crypto.com an injunction that would have allowed the company to continue operating its sports outcome contracts. The decision followed a ban issued in June 2025 by the Nevada Gaming Control Board (NGCB), which argued that the company’s sports-based products should be classified as federally regulated financial instruments rather than traditional gambling products.

The NGCB maintained that these contracts fell under the Commodity Futures Trading Commission (CFTC)’s jurisdiction, effectively blocking Crypto.com from offering them under Nevada’s state gambling laws. However, Judge Gordon disagreed with that interpretation, concluding that Crypto.com’s contracts did not meet the legal definition of “swaps” under the Commodity Exchange Act (CEA).

According to court filings, Gordon noted that an “outcome” was not equivalent to an “occurrence” or “non-occurrence,” which would make it subject to CFTC oversight. “They’re just different things,” he said, emphasizing that not all prediction contracts fall within the purview of federal commodities regulation.

The Fight Is Not Over Yet

This ruling represents a setback not only for Crypto.com but also for the growing number of crypto-based betting startups exploring new ways to merge decentralized finance (DeFi) with sports wagering. The operator has since announced plans to appeal the ruling before the Ninth Circuit Court of Appeals, signaling its intent to continue challenging state-level restrictions that could limit the rollout of blockchain-based prediction markets.

The case adds new urgency to a broader regulatory debate now taking place at the federal level. While the CFTC previously allowed Kalshi to operate similar markets, Crypto.com’s bid to follow suit has been met with tighter scrutiny. The discrepancy has raised questions about regulatory consistency and whether traditional gambling laws are equipped to handle decentralized, blockchain-powered financial products. Still, some more changes will certainly arise from all this.

Underdog and Crypto.com Launch Sports Prediction Markets in 16 U.S. States

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The U.S. gambling industry continues to expand as Underdog, a fantasy and sports gaming operator, partners with Crypto.com to bring sports prediction markets to 16 states. The move is particularly significant because it targets regions where legal sports betting has not yet been adopted, offering players a new way to engage with the activity.

The partnership relies on Crypto.com Derivatives North America (CDNA), a CFTC-registered exchange that will supply the sports event contracts. These contracts will be fully hosted on Underdog’s platform, allowing players to trade on sporting outcomes in a regulated marketplace. Travis McGhee, managing director and global head of capital markets at Crypto.com, emphasized that CDNA was the first to offer sports event contracts and that teaming with Underdog ensures wider access to these innovative products.

By combining Crypto.com’s exchange infrastructure with Underdog’s sports-focused platform, the companies aim to provide a seamless and trusted experience that blends elements of financial trading with traditional betting.

Filling the Gaps in U.S. Sports Betting

The new prediction markets are particularly relevant in states where commercial sportsbooks remain blocked. California and Texas, the country’s two most populous states, still do not allow legal sports betting. Meanwhile, in Florida, the Seminole Tribe maintains exclusive control over sports wagering through its Hard Rock casinos and sportsbooks.

Prediction markets present an alternative since they operate under federal oversight rather than state gaming regulators. Analysts note that this structure could help platforms avoid the delays and legal battles that have slowed down sportsbook expansion in large markets.

Industry experts have naturally taken notice. Analysts estimated earlier this year that sports prediction markets could generate $555 million in revenue in 2025. While still far below the $16 billion generated by legal online sports betting in 2024, the figure highlights a rapidly growing sector with the potential to expand far beyond niche status.

Underdog Positions Itself as a Leader in Prediction Gaming

Underdog is the first sports-focused gaming company to fully embrace prediction markets, a space that is attracting attention from both the gambling and financial sectors. The company’s CEO, Jeremy Levine, has said that the future of prediction markets lies in sports, and Underdog intends to be at the center of that growth.

The platform allows users to buy and sell outcomes of sporting events, with odds adjusting dynamically based on market activity rather than a bookmaker’s line. This trading-style model appeals to younger and tech-savvy players, creating an experience that blends the thrill of sports betting with the strategy of financial markets.

Other major players are also exploring this field. Robinhood, Kalshi, and Polymarket already offer contracts on sporting events, while FanDuel recently announced a partnership with CME Group to explore financial event contracts. DraftKings CEO Jason Robins has also expressed interest in entering the space, signaling growing competition.

Still, Underdog’s partnership with Crypto.com gives it a strong early-mover advantage. The deal ensures access to 16 states and aligns the company with one of the largest names in crypto trading. As casino and sports betting audiences continue to evolve, this development signals the beginning of a new chapter where prediction markets could become a mainstream complement to traditional wagering.

France’s Surprising Crypto Shift Signals Global Growth Trends

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France’s far-right Rassemblement National has made a dramatic shift in its approach to cryptocurrencies, further demonstrating how digital assets continue to influence not only markets but also political ideologies around the world. About a decade ago, party leader Marine Le Pen strongly criticized Bitcoin, calling it a tool for global financial elites. Recently, she has proposed using France’s nuclear energy to mine Bitcoin domestically.

This revelation came during a publicized visit to the Flamanville nuclear power plant, where Le Pen endorsed the idea of installing mining rigs on Electricité de France (EDF) properties. She argues that underutilized or surplus electricity could be converted into a sovereign digital reserve.

Cautious Ambition

Despite Le Pen’s dramatic shift, France’s current government has long taken a more balanced approach to crypto. The country was a strong advocate for the European Union’s Markets in Crypto-Assets (MiCA) regulation, which established unified standards for consumer protection, licensing, and transparency across the EU.

But this commitment to regulation has not stopped France from becoming a central hub for blockchain activity in Europe. Paris has welcomed international exchanges, supported Web3 startups, and backed pilot programs in decentralized finance and tokenized assets. The country has even explored digital currencies through its central bank.

What sets France apart is its willingness to support innovation within a controlled framework. This strategic alignment of oversight and encouragement has positioned it as a digital leader in Europe. Now, with opposition voices like Le Pen also advocating crypto-forward policies, France could see a new era of digital policy where both government and opposition align on Web3 potential, though their motivations may differ.

The Crypto Quest for Global Acceptance

While Le Pen’s proposal is bold, it is not isolated. The proposal marks a sharp contrast to earlier rhetoric and mirrors a growing global trend where support for digital innovation is fast becoming a political advantage. Governments across the world are now starting to frame crypto not just as a financial tool but as an engine for policy and reform.

Across the globe, political leaders are increasingly aligning themselves with pro-crypto narratives, recognizing digital assets as more than financial instruments. In recent election cycles, candidates have even used cryptocurrency platforms not only to appeal to younger, tech-savvy voters but also to signal progressive economic agendas. Campaigns are embracing digital finance for fundraising, policy promotion, and even operational transparency, using tools like blockchain to demonstrate accountability.

Government regulations are also evolving. Legislative frameworks are cropping up to provide legal clarity, attract innovation, and establish secure pathways for institutional and retail adoption.

Michigan Considers Legal Crypto Use in iGaming Amid Rising Enforcement

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Michigan is taking bold steps toward integrating cryptocurrency into its financial and energy frameworks, all while intensifying efforts to curb illegal online gambling. A new legislative package introduced on May 21 features four bills. The standout proposal (House Bill 4510) aims to allow the state’s pension funds to invest in cryptocurrencies such as Bitcoin through regulated exchange-traded products.

Proponents argue that such investments could diversify the state’s retirement portfolios and position Michigan as a forward-thinking player in the digital economy. The other bills in the package, including HB 4512 and HB 4513, focus on supporting crypto mining. They propose tax incentives for companies that repurpose capped or abandoned well sites, provided they meet environmental rehabilitation standards.

Crypto-Gaming Remains Off-Limits, but the Industry Is Gearing Up

Despite the state’s growing interest in digital assets, Michigan’s regulated online casinos are still prohibited from accepting direct cryptocurrency payments. However, this may change. Discussions are underway to consider crypto as a payment method within licensed platforms, and some operators are already preparing their systems for potential integration.

For now, this is pending approval by the Michigan Gaming Control Board (MGCB). The move could, however, boost the state’s iGaming sector. Analysts suggest that allowing cryptocurrency transactions might attract younger, tech-savvy players who are more likely to use digital currencies.

Illegal Operators On State Crosshairs

As Michigan explores crypto innovation, regulators are also tightening oversight on the online gambling front. In a recent crackdown, the MGCB issued cease-and-desist orders to six offshore gambling sites for breaching the Lawful Internet Gaming Act.

Henry Williams, Executive Director of the MGCB, emphasized the risk to consumers using unregulated sites, noting that such platforms offer no guarantees for fair payouts, responsible gambling tools, or basic player protections. He urged residents to avoid offshore casinos and stick with licensed operators.

It is recommended that players looking to use cryptocurrency for online gambling rely on verified Bitcoin casino directories. These help identify trustworthy options in a landscape where legal clarity and consumer safety are vital for the best customer experience.

Polymarket Cleared as US Authorities Drop Investigations

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In what is arguably a major win for the crypto betting community, both the US Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) have officially dropped their investigations into Polymarket, one of the best-known Ethereum-based prediction market platforms. The news, first reported by Bloomberg and later confirmed by Polymarket CEO Shayne Coplan, marks a dramatic turning point for one of the most high-profile crypto betting platforms in the United States.

Polymarket, which operates on the Polygon blockchain, allows users to wager on real-world outcomes. That includes everything from politics and global events to cryptocurrency prices and even celebrity gossip. The platform gained massive attention during the 2024 US presidential election, with billions of dollars wagered, often reflecting market sentiment before traditional polling caught up.

The Backstory

The controversy peaked last November when, just days after the US elections, FBI agents raided Coplan’s New York apartment in a dramatic early morning operation. Devices were seized as authorities investigated allegations that Polymarket had violated a 2022 agreement with the CFTC by permitting US-based users to place bets.

Despite the raid, Coplan maintained Polymarket’s innocence. In a recent social media post, he reflected on the ordeal, describing it as both traumatic and historic, a testament, he said, to Polymarket’s impact on American political discourse.

This outcome aligns with a broader trend in Washington, as President Donald Trump’s administration signals a more crypto-friendly stance. The dropping of several crypto-related investigations under Trump’s leadership suggests a regulatory environment that could be more accommodating for digital asset platforms, especially those involved in crypto betting and prediction markets.

Betting on a Regulated Comeback

With regulatory clouds lifting, Polymarket now appears poised for a potential return to the US market in a more official capacity. Analysts speculate that the platform could seek formal registration with the CFTC as a futures exchange or partner with licensed entities, paving the way for compliant operations in the States.

Meanwhile, Polymarket continues to expand its reach and visibility. Backed by Peter Thiel’s Founders Fund, it recently announced a partnership with Elon Musk’s X and xAI to offer prediction insights on social media. This is a move that could redefine real-time betting engagement.

For the crypto casino and betting audience, this is a landmark moment. In addition to other recent trends and developments, the Polymarket case is even more proof of the shifting tides in crypto regulation and hints at a future where blockchain-based betting platforms may enjoy greater legitimacy in major markets, including the United States.

Bet20 Casino Attempts to Be the New Standard for Anonymous Crypto Gambling

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Bet20, operated by Platinum Technology N.V., has officially launched its online gambling platform, offering players worldwide access to a diverse selection of more than 10,000 premium games. In addition to its extensive game selection, the platform provides instant withdrawals in multiple popular cryptocurrencies and guarantees complete privacy by eliminating the need for identity verification.

Licensed and regulated by the Curaçao Gaming Control Board, Bet20 is positioning itself as a trusted and secure destination for individuals seeking a fast, anonymous, and seamless cryptocurrency gaming experience.

Even at first glance, the casino has been built with the modern cryptocurrency enthusiast in mind. Its extensive game library features everything from classic and video slot machines to table games, live dealer experiences, and exclusive in-house developed titles. Players will recognize content from some of the industry’s most respected software providers, including Pragmatic Play, BGaming, Microgaming, and Red Tiger.

What truly sets Bet20 apart is its support for instant cryptocurrency payouts. Players can transact using over ten different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, Binance Coin, and Tether. Because the platform does not require users to undergo Know Your Customer (KYC) procedures, new players can sign up and begin playing immediately, with no delays or documentation needed.

A senior executive from Bet20 explained that the platform was created to give players a safe and entertaining environment where they remain fully in control of their experience. The executive emphasized that partnerships with leading software providers and a strong focus on user-centric design have made it possible to deliver a platform that stands out in the growing crypto gambling market.

Balancing Anonymity with Safety

Although Bet20 is built for speed, excitement, and convenience, it also takes responsible gaming seriously. The platform includes built-in tools that allow players to set deposit limits, activate self-exclusion, and access round-the-clock customer support. These features are intended to help players maintain a balanced approach to online gambling, ensuring that the fun never comes at the expense of control.

New players are welcomed with a generous bonus offer that includes up to thousands (or the equivalent in cryptocurrency), matched at 280%. In addition, one hundred and fifty free spins are awarded to help kick off the experience. Bet20 also runs regular promotions, tournaments, and prize draws to keep returning players engaged and rewarded.

To top it all off, the platform has also earned praise for its straightforward registration process, transparent terms and conditions, and responsive customer support team available twenty-four hours a day, seven days a week. With strong security protocols in place and oversight from a reputable gaming authority, Bet20 offers a level of trust and professionalism that many players will find reassuring.

Crypto Casinos Face Major Disruption as EU Tightens Stablecoin Rules

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Europe’s online gambling industry, which is increasingly reliant on digital tokens and borderless payments, is facing yet another significant shift. At the heart of the upheaval is Tether (USDT), the world’s most traded stablecoin. If new EU laws under the MiCA (Markets in Crypto-Assets Regulation) framework take full effect, USDT could be blocked from operating on licensed platforms by late 2025.

There has never been an effort by the European Union to provide complete regulation for the decentralized digital asset market, like MiCA. The framework classifies various digital assets into subsets, such as utility tokens, e-money tokens (EMTs), and asset-referenced tokens (ARTs). Examples of EMTs are USDC and other stablecoins that are anchored to fiat currencies and supported by audited reserves. Tether may be subject to further scrutiny since it is less forthcoming about its reserves, making it more probable that it falls under the ART category.

Full asset reserves, independent audits, public disclosures, and strong consumer safeguards are among the criteria that issuers must achieve to stay in compliance with MiCA. Extra regulation, such as limits on daily transaction quantities, will apply to USDT and other extensively used cryptocurrencies. Platforms using tokens that fail to meet these standards may be compelled to remove them from their listings or face fines.

Bracing for Impact

While compliance is the main issue, the fallout could ripple across deposits, withdrawals, liquidity, and affiliate revenue streams. Many operators are already preparing for an environment where using the wrong stablecoin could spell operational trouble or regulatory blacklisting.

In anticipation of these impending regulations, crypto casinos are aggressively rethinking their token strategy. Several regulated sites have already started switching from USDT to USDC or stablecoins that are tied to the euro to surpass enforcement.

In theory, casinos with licenses from jurisdictions other than the European Union, such as Curacao or the Isle of Man, are free to employ Tether and other non-compliant coins. However, European payment processors, ad networks, and affiliate programs are putting more and more limitations on them, which can spell trouble for their traffic and liquidity.

Some sites are looking at collaborating with regulated stablecoin issuers or with alternatives denominated in euros, such as EURe. Others are interested in decentralized payment systems, although MiCA’s scope may ultimately extend to include DeFi in the somewhat likely event that further legislative expansions are implemented. Interest from institutions is also on the rise.

Renowned Japanese Bitcoin Giant Metaplanet Sets Up Shop in Florida

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Japanese investment firm Metaplanet has officially expanded into the United States, launching Metaplanet Treasury Corporation, a wholly-owned subsidiary based in Florida. The company has initially capitalized this new entity with $10 million and plans to allocate up to $250 million from its internal reserves to further strengthen its Bitcoin holdings.

Thanks to its pro-business attitude and relatively lax regulations, Florida has become a magnet for blockchain and cryptocurrency startups and established companies alike. By expanding into the state, Metaplanet hopes to better connect with the rapid financial innovation happening in the US and acquire operational coverage around the clock.

Thanks to Florida’s lenient attitude toward digital assets, Metaplanet is well-positioned to work with the increasing number of fintech and Web3 firms, and it also provides operational agility. This covers domains where regulations are still being worked out, such as online betting and cryptocurrency gambling.

Just in the last month, Metaplanet bought 1,650 Bitcoin, bringing its total acquisition to 5,000 Bitcoin, which is currently worth over $467 million. By the end of 2025, the corporation aims to have 10,000 Bitcoin, and by the end of 2026, it wants to have 21,000 Bitcoin.

Crucially, Metaplanet has already said that it would not be seeking funds from external investors. Rather, the firm will fund its expansion, suggesting its faith in Bitcoin’s potential and its will to be an industry pioneer in the use of digital assets. Investor sentiment appears to reflect this momentum. Metaplanet’s stock has surged more than 1,200% in the past year, fueled in part by its bold crypto strategy and public commitment to Bitcoin as a treasury reserve asset.

The Bigger Picture

Florida seems like a great place to start, but could there be more to explore? Well, it certainly looks like that. There may be considerable implications for the US cryptocurrency betting industry if Metaplanet’s growth indicates more institutional support for Bitcoin. Online gaming and gambling are only two of many industries that stand to benefit from the widespread usage of digital assets brought about by the growing number of public enterprises that use Bitcoin.

Some online gambling establishments and sportsbooks may find it simpler to accept Bitcoin and other digital currencies if their use grows among businesses. Enhancements to banking ties, uniformity in licensing procedures, and customer trust might be part of this. All of these are essential for expansion in a regulatory market like online gambling. Additionally, the use of Bitcoin as a strategic treasury asset by more businesses might hasten the adoption of regulations at the national and state levels that spell out precisely how digital assets can be utilized for gambling-related transactions, including deposits, payouts, and payments.