Paris (France) (AFP) – France said Friday it was blocking access to the online prediction market Polymarket, as punters continued to make bets despite a ban already in place. The national gaming authority ANJ announced that Polymarket’s webpage would be blocked on French territory, which adds to a November 2024 ban on financial transactions to the site.
Polymarket is one of a number of online prediction markets that allow people to bet on the outcome of future events. The ANJ stated that the site’s continued availability, where betting odds on different events are updated in real time, constituted advertising. “Advertising, by any means whatsoever, in favour of an unauthorised betting or gambling site is a criminal offence,” the ANJ said, noting that the fines could reach 100,000 euros ($114,000).
The regulator highlighted that, despite the ban on transactions from French accounts, visits from French internet addresses to Polymarket’s site have been rising, hitting 578,751 last month. The betting markets have caused a number of problems. France’s weather agency Meteo-France filed a complaint in April after one of its weather probes was hacked in order to fix bets on Polymarket.
In another instance, a US soldier is facing federal charges for using classified information to bet on online prediction markets related to the US operation in January to capture former Venezuelan president Nicolas Maduro. He allegedly made more than $400,000.
Additionally, the White House said Thursday a teleprompter operator had been suspended over allegations he placed bets with a prediction market on the content of US President Donald Trump’s speeches. France is one of several European countries that restrict or block access to online prediction markets, including Germany, Italy, and Spain, according to the ANJ. However, France does allow online sports betting.
© 2024 AFP
