France blocks access to Polymarket website

Odaily Planet Daily News The French National Gambling Authority (ANJ) announced on July 17 that it will prevent users within France from accessing the prediction market platform Polymarket, following a previous ban on the platform accepting financial transactions from French accounts.

ANJ stated that although France had already restricted financial transactions related to Polymarket in November 2024, the platform's website remained accessible to French users, with user traffic continuously growing, leading to the decision to implement further web-blocking measures.

Data shows that Polymarket allows users to engage in predictive trading around the outcomes of future events, covering areas such as politics, economics, and sports. Because the platform displays betting odds for different events in real-time, French regulators believe this form constitutes promotional activity for unauthorized gambling websites.

ANJ pointed out: "Promoting unauthorized gaming or gambling websites in any manner is a criminal offense." Related violations could result in a fine of up to €100,000 (approximately S$147,000).

The regulator noted that although French accounts can no longer conduct related transactions, access from French IP addresses continues 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 worldwide, how to define them—as financial innovation, information markets, or gambling businesses—is becoming a focal point of regulatory discussions in various countries. (Straitstimes)