Polymarket Blocks French Users Amid Regulatory Probe

Andras Crow-Hreidar
By Andras Crow-Hreidar Add a Comment
3 Min Read

Polymarket, a blockchain-based prediction platform, has restricted access for French users as part of an ongoing investigation into its compliance with national gambling laws. This move comes amid increased scrutiny from France’s National Gaming Authority (ANJ) and highlights the growing tension between decentralized platforms and regulatory environments.

Polymarket Blocks French Users Amid Regulatory Probe = The Bit Journal

French Users Blocked from Polymarket

As of November 22, Polymarket has restricted access to its platform for users in France. While the platform’s official terms of service have not been updated to reflect this, attempts to access the site from a French server resulted in a digital block. Reports from The Big Whale, a French crypto news source, indicate that some users bypassed the restriction using virtual private networks (VPNs).

The investigation reportedly began after a French investor placed a significant wager on the 2024 U.S. presidential election, betting on Donald Trump’s victory. This activity drew notable attention to the platform, triggering regulatory concerns.

Regulatory Challenges and Global Reach

Polymarket’s unique use of blockchain technology to facilitate real-world event predictions has made it a standout platform. However, its innovative model has also raised questions in jurisdictions with strict gambling laws, such as France. Neither Polymarket nor ANJ has provided comments on the ongoing investigation.

The ANJ, known for its strict enforcement of national gambling laws, is now closely examining Polymarket’s operations. The outcome could serve as a precedent for other decentralized platforms navigating complex regulatory environments.

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Polymarket Blocks French Users Amid Regulatory Probe = The Bit Journal

Balancing Decentralization and Compliance

Polymarket operates on principles of decentralization, using smart contracts instead of traditional intermediaries. This model has attracted both users and regulators, with the latter questioning its alignment with existing gambling laws.

Observers note that platforms like Polymarket must balance their commitment to decentralization with the need to comply with local laws, which vary widely across jurisdictions. While restricting French users may signal an effort toward compliance, the ease with which users circumvent these measures through VPNs raises doubts about their effectiveness.

A Precedent for Decentralized Platforms

The ongoing ANJ investigation could shape how regulators perceive decentralized prediction platforms and determine their compatibility with existing gambling laws. For now, Polymarket’s cautious approach underscores the challenges of achieving global compliance while staying true to the core principles of decentralization.

Stay tuned to The Bit Journal for updates on this investigation and its potential impact on decentralized platforms and global crypto regulations.

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Editorial Director Hi there, my name is András and I'm a business and finance journalist living in Norway. My passion lies in uncovering the latest stories in the world of finance and delivering them to my readers in a way that's clear and engaging. I cover a wide range of topics in the finance world, including cryptocurrencies, which I believe have the potential to transform the way we interact with money and financial systems.As a journalist, I'm committed to providing my readers with accurate and reliable reporting. I believe that access to high-quality information is essential for making informed decisions, whether it's about personal finances or investments. When I'm not writing about finance, I enjoy a variety of hobbies and interests.
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