DUBAI, UAE – July 23, 2025 – A Dubai-based investor has launched formal legal and regulatory action against decentralized prediction platform Polymarket, citing unresolved financial misconduct, negligence, and a lack of response to repeated legal notices.
The investor, Mohmed Al Bark, issued a final legal notice to the platform after multiple attempts to resolve a dispute involving the unauthorized withholding of funds. According to Al Bark, Polymarket has failed to respond adequately to over ten email communications and a formal legal demand. He has now confirmed that a regulatory case file is being prepared in the UAE, with proceedings underway to escalate the issue across multiple governmental and industry channels.
“Polymarket’s failure to act is not just customer service negligence—it’s a legal liability. This is now a formal case of financial misconduct involving a blockchain platform operating in one of the most regulated Web3 environments globally,”said Al Bark.UAE Authorities and Regulatory Bodies Involved
Al Bark, who has established ties with the UAE Consumer Protection Department, the Telecommunications and Digital Government Regulatory Authority (TDRA), and the Virtual Assets Regulatory Authority (VARA), stated that formal complaints and evidence submissions are already in motion. He also confirmed that he is working directly with a senior officer in UAE Consumer Protection to pursue the matter through appropriate legal channels.
As part of the escalation, the following steps are being taken:
- Filing of a formal fraud complaintwith UAE Consumer Protection.
- Submission of a VARA complaint for blockchain-related financial misconduct.
- Contact with local and international Web3 media outlets covering regulatory issues.
- Notification of blockchain event organizers, VCs, and incubators in the region, warning of potential compliance risks associated with Polymarket.
Platform Blocklisting and Market Impact
Al Bark confirmed he is also moving forward with technical and legal steps to restrict platform access to users in the UAE, and to initiate discussions around the blacklisting of Polymarket within relevant regional compliance frameworks.
“Polymarket’s vague references to internal escalation, paired with silence from its legal team, show a clear lack of accountability. I’ve exhausted every professional channel—now the issue moves to enforcement,” he stated.
Polymarket has not issued any public comment on the allegations as of this publication.
With the UAE emerging as one of the world’s most robust and compliance-driven Web3 ecosystems, the outcome of this case could have significant implications for how blockchain-based platforms operate within the region.
