Polymarket Restricts Access to French Users Amid Government Investigation
Polymarket, a popular blockchain-based prediction market, has recently blocked access to French users as the country’s national gaming authority, the ANJ, investigates the platform’s compliance with gambling laws.
French Users Blocked
- Access to Polymarket from French servers is currently restricted, although the platform’s official terms of service do not mention this block.
- Some French users have been able to bypass the restriction using virtual private networks (VPNs).
The investigation was reportedly triggered by a French trader placing significant bets on President Donald Trump winning the 2024 US presidential election, drawing attention to Polymarket’s global reach and use of cryptocurrency.
Regulatory Uncertainty
- Polymarket’s decentralized nature, governed by smart contracts, has attracted regulatory scrutiny in various countries, including the US.
- The French investigation could set a precedent for prediction markets operating in highly regulated jurisdictions.
- Platforms like Polymarket must balance decentralization with compliance with local laws, a challenge that varies across different countries.
As Polymarket navigates regulatory challenges, the outcome of the ANJ’s investigation will shed light on how decentralized markets can coexist with established gambling laws.
For now, Polymarket is taking a cautious approach to global compliance as it faces the complexities of regulatory oversight.
