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France Blocks Polymarket Access After Payments Ban

France’s gambling authority, the Autorité Nationale Des Jeux (ANJ), has ordered internet service providers to block access to the prediction market Polymarket following previous attempts to restrict financial transactions. This action targets Polymarket, which the ANJ designates an illegal gambling site.

What Happened

The Autorité Nationale Des Jeux (ANJ), France’s independent regulatory authority for licensed gambling and betting, issued an order for internet service providers (ISPs) to block access to Polymarket, according to Engadget and CNA. This regulatory action follows a prior measure implemented in November 2024 by the ANJ, which involved geoblocking financial transactions from French residents on the Polymarket website, as reported by Cryptopolitan and Cointelegraph.

Despite the earlier transaction ban, the ANJ observed continued growth of the platform within France, with users reportedly circumventing the previous restrictions. In June, Polymarket recorded 578,751 visits from French residents, including 205,057 unique visits, according to the ANJ. The current directive represents a heightened effort by the ANJ to restrict Polymarket, reiterating its classification of the platform as an illegal gambling site.

Key Details

  • The Autorité Nationale Des Jeux (ANJ) ordered ISPs to block access to Polymarket (Engadget, CNA).
  • This action follows a November 2024 regulatory measure by the ANJ that geoblocked financial transactions from French residents on Polymarket’s website (Cryptopolitan).
  • The ANJ reported 578,751 visits to Polymarket from French residents in June, with 205,057 being unique visits (Engadget).
  • The ANJ considers Polymarket an illegal gambling site (Cryptopolitan).
  • Advertising an unauthorized betting or gambling site in France could result in fines up to 100,000 euros (Engadget).
  • Neighboring Spain has reportedly ordered to block access to Polymarket and Kalshi while investigating potential gambling law violations (Engadget).

Why It Matters

This escalating regulatory action by the ANJ underscores a persistent challenge faced by prediction markets in regulated jurisdictions, particularly concerning their categorization as gambling platforms. The move by French authorities to impose a direct access block on Polymarket, following an unsuccessful attempt to restrict transactions, illustrates a hardened stance against platforms operating without local licensing. This situation highlights the ongoing scrutiny prediction markets encounter from regulatory bodies focused on licensed betting and financial operations.

The broader implications extend to the operational landscape for prediction markets within regulated markets. Similar actions are being observed in other jurisdictions; Spain has reportedly ordered blocks on Polymarket and Kalshi pending investigations into gambling law compliance, while in the US, Minnesota banned prediction markets, and other states have initiated legal proceedings against Polymarket and Kalshi, according to Engadget. This indicates a growing international trend of regulators asserting control over these platforms, potentially impacting their accessibility and business models within regulated sectors.

What’s Next

Individuals found advertising unauthorized betting or gambling sites in France face potential fines of up to 100,000 euros, as reported by Engadget.

Originally reported by EngadgetPublished

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