[Portugal Orders Polymarket Shutdown, Abnormal Betting on Presidential Election Sparks Insider Trading Concerns] BlockBeats News, January 20: According to local media reports, the Portuguese Gambling Regulation and Inspection Service (SRIJ) has ordered the shutdown of the crypto prediction market Polymarket, deeming its operations within Portugal illegal. The platform has been given 48 hours to cease its services, failing which internet service providers will enforce the block. The regulatory authority stated that Polymarket has not obtained any authorization to provide online gambling services in Portugal, and Portuguese law explicitly prohibits betting on domestic or international political events. Despite receiving a notice to rectify the issue, the platform remains accessible in Portugal as of now. During the 2026 Portuguese presidential election, abnormal trading activity was observed on related markets on Polymarket. Hours before the official results were announced, the betting volume surged, with over €4 million flowing into the relevant markets just before the results were revealed. This has led to widespread suspicion of early leaks of exit poll results and "insider trading." Data shows that the total trading volume in the main prediction market for the Portuguese presidential election has exceeded $120 million. The regulatory authority noted that it only has jurisdiction over licensed platforms and cannot guarantee that Portuguese users will recover their invested funds after the platform is blocked.