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Polymarket to Challenge France’s Nationwide Access Block in Court

Source
JOON HYOUNG LEE

Summary

  • France’s National Gaming Authority, or ANJ, said it ordered a full block on access to Polymarket, citing the risk of potential losses and possible market manipulation.
  • Polymarket said the measure was excessive and plans to challenge the blocking order in a French court.
  • The key issue is the legal nature of event contracts in prediction markets. Polymarket said its service is a blockchain-based financial product and differs from a conventional gambling operator.

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Photo: Shutterstock
Photo: Shutterstock

Polymarket, the global prediction-market platform, plans to take legal action against French authorities over a decision to block nationwide access to its service.

CoinDesk reported on July 23 that France’s National Gaming Authority, known as ANJ, recently ordered domestic internet service providers to block access to Polymarket entirely. ANJ said the platform offers a service that could expose users to potential losses and create a risk of market manipulation.

Polymarket called the measure excessive and said it plans to challenge the blocking order in a French court.

The company said the measure could also affect users who visit the site simply to obtain information. Most users come to the platform to check the probabilities of future events rather than to place trades.

Polymarket had already suspended trading services for users in France in November 2024. ANJ nonetheless ordered a full site block, saying users could still view market information and real-time odds after the trading restrictions were imposed and that the platform continued to promote an unauthorized gambling service.

The central issue is how to classify event contracts in prediction markets under the law. Polymarket defines its service as a blockchain-based financial product traded directly between users. It says that sets it apart from a conventional gambling operator because it does not act as the counterparty to trades or profit from market outcomes.

#Crypto Regulation
#Prediction Market
JOON HYOUNG LEE

JOON HYOUNG LEE

gilson@bloomingbit.ioCrypto Journalist based in Seoul

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