The Netherlands Gambling Authority (Ksa) is imposing a penalty on Adventure One QSS Inc. for illegal gambling activities. Adventure One offers games of chance on the Dutch market under the brand name Polymarket, without a license.

The Ksa is calling on Polymarket to cease its activities immediately. If it fails to do so, the company will be fined €420,000 per week, with a maximum of €840,000.

Polymarket has been frequently in the news in recent months, particularly regarding betting on the Dutch elections. Although Polymarket itself states that prediction markets are not considered gambling, the Ksa has taken a different stance. After contacting the company about its illegal activities on the Dutch market, there has been no visible change, and the offering is still available. Therefore, the Netherlands Gambling Authority is now imposing this penalty. A turnover-related fine may also be imposed at a later date.

Ella Seijsener, Director of Licensing and Supervision at the Ksa: “Prediction markets are on the rise, including in the Netherlands. These types of companies offer bets that are not permitted in our market under any circumstances, not even by license holders. Besides the social risks of these kinds of predictions (for example, the potential influence on elections), we conclude that this constitutes illegal gambling. Anyone without a license from the Royal Netherlands Gambling Authority (Ksa) has no business in our market. This also applies to these new gambling platforms.