France Orders ISPs to Block Polymarket Amid Regulatory Crackdown on Prediction Markets

Key Facts

In a move reflecting heightened regulatory scrutiny over decentralized crypto platforms in Europe, France’s gambling authority (ANJ) has officially ordered internet service providers to geoblock Polymarket. The French regulator based its decision on concerns regarding illegal gambling operations and potential market manipulation within the platform. This enforcement action aims to restrict access for users in France to one of the world's largest blockchain-based prediction markets.

This crackdown occurs as prediction markets experience explosive growth, with Polymarket recording record trading volumes exceeding $1 billion during peak periods in 2024, according to data from Dune Analytics. The ban aligns France with other jurisdictions taking a hardline stance on crypto-betting; notably, the U.S. Commodity Futures Trading Commission (CFTC) already restricts American users from trading on the platform under a prior settlement agreement.

Traders should watch for further statements from European regulators, which may signal a broader trend toward regulating or banning decentralized prediction markets across other EU member states.