PANews January 25, 2023 — According to a report by CoinDesk, a senior official involved in shaping Ukraine's digital economy policy stated that Ukraine currently lacks a legal framework for Web3 prediction markets, and its existing laws do not recognize such platforms. Days after Ukraine blocked Polymarket and nearly 200 gambling-related websites, Dmitry Nikolaievsky, Chief Legal Officer of the Office of Digital Economy Development Projects at Ukraine's Ministry of Digital Transformation, revealed that although the decision to block Polymarket followed existing legal procedures, the fundamental issue is that Ukraine's legal framework does not recognize prediction markets. Legal reform is unlikely in the short term, as the possibility of the parliament redefining gambling during wartime is extremely low, leaving prediction markets in a legal limbo.
Ukrainian Official: No Legal Framework for Prediction Markets, Polymarket Cannot Resume Operations
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Summary
A senior Ukrainian official involved in digital economy policy stated that the country lacks a compliance framework for Web3 prediction markets. According to PANews, Polymarket remains blocked under CFT and anti-gambling laws. Dmitry Nikolaievsky, legal head at the Ministry of Digital Transformation, noted that existing laws do not recognize such platforms. The parliament is unlikely to redefine gambling during wartime, leaving prediction markets in a legal gray area. The block followed standard legal procedures but highlights the absence of a clear regulatory path.
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