Key Takeaways
- French authorities have blocked access to the online prediction market Polymarket.
- The ban follows a November 2024 restriction on financial transactions with the site.
- Visits from French internet addresses to Polymarket’s site continue to rise.
France has taken further action against the online prediction platform Polymarket, blocking access to its website within the country. The national gaming authority ANJ announced this decision on Friday, adding it to a previous ban that restricted financial transactions with the site.
According to the ANJ, the continued availability of Polymarket’s webpage constitutes advertising and is considered a criminal offense under French law. Fines for such violations can reach up to 100,000 euros ($114,000).
Despite the ban on transactions from French accounts, visits from French internet addresses to Polymarket have been increasing, reaching 578,751 in a recent month. This indicates that many users are still accessing the platform despite the restrictions.
The issue of online prediction markets has caused several problems for authorities and organizations. In April, France’s weather agency, Meteo-France, filed a complaint after one of its weather probes was hacked to fix bets on Polymarkets. Additionally, a US soldier is facing federal charges for using classified information to bet on these markets related to the January 2024 operation to capture former Venezuelan president Nicolas Maduro.
The White House has also reported that a teleprompter operator was suspended over allegations of placing bets with prediction markets on the content of President Donald Trump’s speeches. These incidents highlight the ongoing challenges posed by such platforms.
France is not alone in its restrictions; other European countries like Germany, Italy, and Spain have similar bans or blocks against online prediction markets. However, France allows for online sports betting within certain regulations.
The ANJ emphasized that while transactions from French accounts are restricted, the site remains accessible to users with non-French IP addresses. This has led to a rise in visits from French internet addresses, indicating a significant user base despite the ban.
