France blocks access to Polymarket
Summary
France has blocked access to the online prediction market Polymarket after people kept placing bets despite a previous ban on transactions from France. The French gaming regulator says that allowing access to the site counts as illegal advertising and warns of fines.Key Facts
- France’s national gaming authority, ANJ, blocked Polymarket’s website in France.
- This action follows a November 2024 ban on financial transactions to Polymarket from France.
- Polymarket lets users bet on the outcomes of future events with real-time updated odds.
- ANJ says accessing and promoting unauthorized betting sites is a criminal offense with fines up to 100,000 euros.
- Visits from French internet addresses to Polymarket increased to over 578,000 last month despite the ban.
- Problems linked to prediction markets include a hacking case involving French weather data and federal charges against a US soldier for betting with classified information.
- Several European countries, like Germany, Italy, and Spain, also restrict or block access to prediction markets.
- France still allows legal online sports betting.
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