2024

Polymarket

<p>France has officially shut the door on Polymarket. The country’s gambling regulator has blocked the crypto prediction platform nationwide. Regulators say the site breaks gambling laws and could expose users to market manipulation and insider trading.<br><br>The move comes as Polymarket generates more than $1 billion in annualized revenue.</p>
<h2 id="h-why-did-france-block-polymarket" class="wp-block-heading">Why did France Block Polymarket?</h2>
<p>France’s National Gambling Authority (ANJ) has <a href="https://x.com/greekcitytimes/status/2078223189327646920" rel="noopener noreferrer nofollow">ordered</a> internet service providers to block access to Polymarket across the country, calling it an unauthorized gambling platform under French law.</p>
<p>The regulator said the website will remain blocked until Polymarket fully complies with France’s gambling rules. It also warned that displaying live betting odds to French users counts as illegal gambling advertising, which can carry fines of up to €100,000 ($114,000).</p>
<p>French regulators first opened an investigation into Polymarket in late 2024 after its trading activity surged <a href="https://coinpedia.org/news/u-s-lawmakers-launch-probe-into-kalshi-and-polymarket-over-insider-trading-concerns/" rel="noopener noreferrer nofollow">during the U.S. election</a>. They later banned payments and limited French users to view-only mode, but traffic kept growing.&nbsp;</p>
<p>The ANJ said the platform still received 578,751 visits from French IP addresses in June, leading regulators to block the website completely.</p>
<h2 id="h-market-manipulation-and-insider-trading-raised-red-flags" class="wp-block-heading">Market Manipulation and Insider Trading Raised Red Flags</h2>
<p>The ANJ said prediction markets carry serious risks because wealthy traders or insiders can influence betting outcomes.</p>
<p>One example involved French trader Fredi9999, who reportedly moved prediction market odds by placing multi-million-dollar bets during U.S. political events before earning around $50 million.</p>
<p>The regulator also cited a case involving Meteo-France, where weather data was reportedly hacked so traders could gain an unfair advantage in weather-related prediction markets.</p>
<p>According to the ANJ, these incidents show why prediction markets remain difficult to regulate under France’s gambling laws and why stronger action is needed.</p>
<h2 id="h-polymarket-faces-a-global-crackdown" class="wp-block-heading">Polymarket Faces a Global Crackdown</h2>
<p>France is not acting alone. Polymarket is now blocked or heavily restricted in more than 33 countries, including Spain, Germany, Italy, the Czech Republic, and Romania, because it lacks local gambling licenses.</p>
<p>Meanwhile, Spain temporarily blocked both Polymarket and Kalshi earlier this year, while U.S. regulators have also started reviewing new rules for prediction markets.</p>

Polymarket is Officially Illegal And Completely Blocked in France

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