Polymarket, a prediction platform, has banned French traders amid a probe by France's ANJ into illegal gambling practices. This move follows significant betting activity linked to Donald Trump's 2024 election odds and suspicions of market manipulation. Despite challenges, Polymarket plans to launch its own token.
France plans to block access to Polymarket due to increased crypto betting on the US election.
Polymarket, a cryptocurrency prediction platform, is under investigation by French regulators following $3.5 billion in US election trading. Concerns arise over unlicensed gambling activities, with trader "Theo" winning $47 million on Trump's victory. The scrutiny reflects growing global regulatory attention, including a CFTC probe.
France's National Gaming Authority, ANJ, is reportedly investigating Polymarket, a blockchain prediction market platform, for operating without a license.
