Colombia’s gambling regulator, Coljuegos, has requested that internet service providers block access to prediction market platform Polymarket for operating unauthorized betting on electoral events.
Authorities say such activities are illegal in the country, as betting on elections is not regulated and falls under unauthorized games of luck and chance.
Speaking about the ban, the President of Coljuegos, Marco Emilio Hincapie, explained, “Polymarket does not have the required permits to operate internet games in Colombia. For this reason, we have requested that the site be blocked and opened an investigation into those responsible for this illicit activity.”
Although Polymarket is a platform for predicting future events, Coljuegos stated that its operations involve key legal elements, including equity risk, prize expectations, and uncertain outcomes, which classify them as games of chance under Colombian gambling rules.
