France blocks access to Polymarket website
Odaily Odaily Planet Daily News The French National Gambling Authority (ANJ) announced on July 17 that it will block access for users within France to the prediction market platform Polymarket, following a previous ban on the platform accepting financial transactions from French accounts.
The ANJ stated that although France had already restricted financial transactions related to Polymarket since November 2024, the platform's website continued to be accessible to French users, with user traffic growing steadily, leading to the decision to implement further web-blocking measures.
Data shows that Polymarket allows users to engage in prediction trading on the outcomes of future events, including politics, economics, sports, and other fields. Because the platform displays betting odds for different events in real-time, French regulators believe this form constitutes promotion of unauthorized gambling websites.
The ANJ pointed out: "Promoting unauthorized betting or gambling websites in any way is a criminal offense." Related violations may be subject to a maximum fine of 100,000 euros (approximately 147,000 Singapore dollars).
Regulators stated that although French accounts can no longer conduct related transactions, access from French IP addresses has continued to rise, reaching 578,751 visits in June.
This blockade further highlights the attention European regulators are paying to prediction market platforms. As decentralized prediction markets like Polymarket grow rapidly globally, how to define them as financial innovation, information markets, or gambling businesses is becoming a focus of regulatory discussion across countries. (Straitstimes)
