France’s regulatory authority has ordered Internet Service Providers (ISPs) to block access to Polymarket. This action follows a previous geoblock on financial transactions from French residents on the site in November.
What Happened
France’s regulatory authority for licensed gambling and betting games announced an order directing ISPs to block access to Polymarket, according to Slashdot.org. This directive was issued this week, as reported by Engadget via Slashdot.org.
The regulatory action stipulates that individuals found advertising an unauthorized betting site could face fines up to 100,000 euros, equivalent to approximately $114,000. This current blocking order builds upon a previous regulatory measure implemented in November, which imposed a geoblock on financial transactions originating from French residents on Polymarket’s platform, as noted by Slashdot.org.
Key Details
- France’s regulatory authority for licensed gambling/betting games ordered ISPs to block access to Polymarket, according to Slashdot.org.
- Advertising an unauthorized betting site in France could result in fines up to 100,000 euros (approximately $114,000), as reported by Slashdot.org.
- This action follows a previous regulatory measure from November that placed a geoblock on financial transactions from French residents on Polymarket’s site, according to Slashdot.org.
- Reportedly, Spain also blocked access to Polymarket and Kalshi in May while initiating a gambling license investigation, as stated by Slashdot.org.
Why It Matters
This regulatory action by France highlights an escalating trend of national authorities asserting control over prediction markets and decentralized finance platforms within regulated markets. The imposition of ISP-level blocks and significant financial penalties for advertising unauthorized sites signals a robust enforcement stance by the French government against platforms deemed outside its licensing framework. This move could influence how other regulated markets approach decentralized betting platforms, particularly concerning compliance with local gambling and financial regulations.
What’s Next
The directive outlines potential fines of up to 100,000 euros for those advertising unauthorized betting sites, according to Slashdot.org. No further forward-looking details were explicitly provided within the source material beyond these immediate consequences for non-compliance.
Originally reported by Slashdot.orgPublished
Sources & References
Primary source
- Slashdot.orgyro.slashdot.org
Additional references
- France orders country’s internet service providers to block Polymarketcoindesk.com
- France orders internet providers to block access to Polymarket prediction site – France 24france24.com
- French internet service providers told to block access to Polymarglobalbankingandfinance.com
- French Gambling Authority Blocks Polymarket Accesscointelegraph.com