Polymarket blocks french users as ANJ probe into large Trump election bets
The French were betting very heavily
The largest blockchain-based prediction and betting marketplace, Polymarket, has restricted access for French users.
According to CryptoSlate, the restrictions were implemented on November 22, although Polymarket's official terms of service did not mention the decision. Attempts to access the platform from French servers have reportedly been unsuccessful.
The restriction is said to be linked to an investigation launched by France’s national gambling regulator, ANJ, after significant bets on Donald Trump's victory were placed on Polymarket from France.
An Open Question
The ANJ, known for its strict enforcement of national gambling laws, oversees online betting and gaming in France. Polymarket's growing popularity is attributed to its innovative use of blockchain technology, enabling users to create and participate in markets to predict the outcomes of various events, from elections to sports.
This broad and innovative approach raises questions about whether the platform falls under the regulatory purview of authorities like the ANJ.
Moreover, according to the French crypto-news outlet The Big Whale, some users in France have reportedly bypassed the restriction by using virtual private networks (VPNs).
Polymarket, launched in 2020, allows users to place bets on real-world events using cryptocurrencies. The platform, which is based in New York but restricted to non-U.S. users, saw a record $2.5 billion in bets in October, largely driven by interest in the U.S. election. Despite its U.S. headquarters, Polymarket remains accessible in countries like France, where it has attracted significant betting activity, including a reported $20 million wager from a French user supporting Donald Trump’s presidential bid.
