Polymarket, a leading blockchain-based prediction marketplace, has restricted access to French users amid a government investigation into its compliance with the country’s gambling laws, according to local media.
The platform, known for allowing users to bet on real outcomes using crypto, implemented the block on November 22. This decision comes as part of increased surveillance by the French national gaming authority, the ANJ.
French users blocked
As of press time, Polymarket’s official terms of service did not reflect the decision to block users. However, attempts to access the site from a French server resulted in a digital barrier.
French crypto media outlet The Big Whale was among the first to report on the blockage, revealing that some users had managed to circumvent the restriction by using virtual private networks (VPNs).
The investigation reportedly began after a French trader made a significant bet on President Donald Trump’s victory in the 2024 US presidential election, an event that sparked significant activity on the platform.
Polymarket’s global reach and use of crypto has raised questions about its legal status in jurisdictions with strict gambling regulations, including France.
Neither Polymarket nor ANJ responded to requests for comment on the subject. The ANJ, which oversees online betting and gaming activities in France, has a reputation for rigorously enforcing national laws. Its investigation into Polymarket highlights the difficulties decentralized platforms face navigating different regulatory landscapes.
Polymarket’s rise has been fueled by its innovative use of blockchain technology. It allows users to create and participate in markets and predict the results of everything from elections to sporting events.
Regulatory uncertainty
The platform operates on the principle of decentralization, where markets are governed by smart contracts rather than traditional intermediaries.
However, this innovation has also made it a focal point for regulators in several countries, including the United States. The French investigation could set an important precedent for prediction markets operating in highly regulated jurisdictions.
Observers note that platforms like Polymarket must balance their commitment to decentralization with the need to comply with local laws, which can vary significantly from country to country. While Polymarket’s actions to block French users can be seen as a step toward compliance, the effectiveness of such measures is questionable, given how easy it is to circumvent restrictions via VPNs.
This raises broader questions about how decentralized platforms can address regulatory concerns without compromising their core principles. The results of the ANJ investigation could provide further clarity on how regulators view decentralized markets and whether these platforms can coexist with established gambling laws.
For now, Polymarket’s move demonstrates a cautious approach as it seeks to navigate the complexities of global compliance.
