[Netherlands Declares Polymarket Illegal and Orders Cessation of Operations] BlockBeats News, February 20: The Dutch gambling regulator has determined that Polymarket is providing gambling services to Dutch users without obtaining a local license, violating the Gambling Act, and has ordered it to cease related operations. The regulator stated that Dutch users can register, deposit, and place bets on the platform, constituting a 'game of chance' that requires a license to operate. If Polymarket fails to comply, it may face fines of €420,000 per week, up to a maximum of €840,000. Polymarket argued that it is a prediction market rather than traditional gambling, but the regulator rejected this claim. (Decrypt)