Greece criminalizes black market play, France warns against prediction market, EU politician proposes bloc-wide tax
Greece bans players from using black market sites
Unlicensed sites are a problem for gambling markets everywhere. While governments typically focus on the organizers, authorities in Greece are taking things a step further and making black-market players criminally liable.
The growing black gambling market in Greece, which has now reached €1.6 billion, requires stricter measures, according to the Minister of National Economy and Finance, Kyriakos Pierrakakis.
The Hellenic Gaming Supervision and Control Commission (EEEP) will gain expanded powers, including investigative functions and stronger enforcement mechanisms. In addition to a zero-tolerance approach toward illegal operators and significantly harsher penalties for aggravating circumstances — such as repeat offences, reopening sealed premises, and the involvement of minors — including financial penalties ranging from €50,000 to €100,000 or even prison sentences of up to ten years, the EEEP is also planning to target players who repeatedly participate in illegal gambling activities. These amendments are expected to be published in a public decree in the first half of 2026.
Although the prosecution of players represents a drastic step, given the projected annual economic losses of €500 million and the high number of participants, the authorities consider these measures justified.
French regulators issue warning about prediction market
Part of regulating gambling is drawing a line around what constitutes games of chance. Loot boxes, for example, draw scrutiny from operators for their gambling-type mechanics, pervasiveness in video games, and appeal to under-18s.
In the same vein, regulators are taking a closer look at prediction markets.
Through a LinkedIn post, France’s National Gaming Authority (ANJ) issued an official warning that prediction markets are considered a form of illegal gambling. The post claims that prediction market sites have addictive characteristics similar to online gambling, and as they’re not regulated, they lack the protection mechanisms of authorized sites.
Prediction market platforms, which let users bet on not just sporting but political and geopolitical events, have seen a boom in popularity, especially after the 2024 US presidential election, and handle billions of dollars in turnover.
France is not alone in clamping down on prediction markets; Polymarket, the biggest platform, has been fined in the Netherlands and blocked in Hungary, Belgium, and Ukraine. Lawmakers in Romania are moving to follow suit, and while the Germans haven’t blocked the site, they have issued a public warning.
EU considers uniform iGaming tax
Governments often use tax revenues from gambling to supplement the national budget; one European politician wants to take that principle to an even higher level.
European Parliament Vice-President Victor Negrescu has proposed that EU member states implement an “EU-level iGaming tax.” Revenues would be used to fund social initiatives, education, and workforce reskilling projects.
As one of 14 vice-presidents in the European Parliament, Negrescu takes part in setting the EU budget framework, and has made it a priority to develop a financial model which focuses on education, youth, and skills development.
In an address to a plenary session, Negrescu pointed out that gambling tax rates vary widely throughout the EU. Some member states levying single-digit taxes while others charge upwards of 40%. A uniform tax would eliminate unfair tax competition, as well as clarifying legitimate operators across the entire bloc.
