France Blocks Polymarket: Regulatory Pressure Intensifies on Crypto Prediction Markets

France's Autorité nationale des jeux (ANJ) has ordered internet service providers to geoblock Polymarket, citing illegal gambling and market manipulation risks. The platform, which enables users to trade contracts on future events, faces escalating global regulatory scrutiny.

Regulatory Clampdown on Prediction Markets

■ANJ classified prediction websites as unauthorized gambling, imposing fines of up to €100,000 (~$114,000) for advertising violations.

■Polymarket's lack of Know Your Customer (KYC) protocols and addictive features were flagged as key concerns, with 36 regions now under geoblock, including Singapore, Poland, Brazil, and Ukraine.

Global Regulatory Escalation

■The platform's trading volume surged to billions of dollars over two years, attracting regulators due to its hybrid financial-gambling model.

■In the U.S., Kentucky and 17 other states sued prediction markets, labeling them unlicensed sports betting platforms, while the CFTC challenged state-level oversight of federally regulated contracts.

Market dynamics highlight the regulatory tightrope walked by crypto prediction platforms. ANJ's decision underscores mounting legal risks for decentralized structures lacking verification frameworks. Investors must reassess exposure to platforms like Polymarket, where regulatory ambiguity intersects with systemic vulnerabilities.