France Orders ISPs to Block Polymarket After Prediction Market Ban Ignored
Vexoda Newsroom
France has ordered internet service providers to block access to Polymarket, escalating its crackdown on online prediction markets beyond a financial transaction ban. This move highlights growing regu
France recently moved from banning bets on Polymarket to blocking the site outright after it became evident that users were still accessing the platform despite existing restrictions. The national gaming authority, ANJ, issued a directive for ISPs to block access to Polymarket, following an earlier measure in November 2024 that already barred French accounts from sending money to the platform.
Polymarket operates as an online prediction market where users can bet on various future events, including elections and geopolitical developments. ANJ cited concerns over the site's continued availability in France, noting that real-time updates of betting odds effectively advertise unauthorised gambling activities, which are illegal under French law. The regulator highlighted a significant increase in traffic from French internet addresses to Polymarket last month, reaching 578,751 visits.
This action by ANJ comes amid growing scrutiny and integrity issues surrounding prediction markets. In April, France's national weather service, Meteo-France, filed a complaint after one of its weather probes was hacked in an attempt to manipulate betting outcomes on Polymarket. Additionally, the U.S. military is investigating a case where a soldier allegedly used classified information to place bets and profited over $400,000 from prediction markets related to operations involving former Venezuelan president Nicolas Maduro.
The tightening regulatory stance by France reflects broader concerns across Europe. Germany, Italy, and Spain are among other countries that restrict or block access to online prediction markets. However, unlike these restrictions, France still permits conventional online sports betting, drawing a clear distinction between regulated wagering and unauthorised platforms like Polymarket.
For trading platforms such as Polymarket, this development underscores the increasing regulatory risk and reputational challenges they face even as their popularity continues to grow among users. The move by ANJ may set a precedent for other jurisdictions considering similar measures, potentially leading to more stringent oversight in the prediction market space.
Source: InvestingLive. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.