Polymarket Expands Access Restrictions Amid French Compliance Inquiry

Polymarket Tightens Access Restrictions in France Amid Regulatory Inquiries

Prediction marketplace Polymarket has expanded its access restrictions to include users in France following reports of an investigation into its compliance with local gambling regulations.

Access Limitations

While Polymarket has yet to issue an official statement, a message now displays for users accessing the platform from France, indicating that it is in "view-only mode." This means that French users can view information but are unable to engage in any trading activities.

Regulatory Considerations

The new restrictions stem from allegations that the National Gaming Authority (ANJ), responsible for regulating online gambling in France, is investigating Polymarket's compliance with French law. This scrutiny reportedly emerged following the significant winnings (approximately $80 million) earned by a French citizen known as "Théo" ("Fredi9999") after betting on Donald Trump's presidential victory.

According to an ANJ official quoted in a recent interview with The Block, the organization is examining Polymarket to ensure its adherence to French gambling regulations. This follows heightened attention to Théo's betting activities and a surge in platform engagement during the US election.

Pending Resolution

While the ANJ has not formally communicated any policy changes affecting French users, Polymarket has proactively restricted access to its platform in France. A company spokesperson stated that "Users in France can continue to access Polymarket for critical information, but new trades have been paused while we engage with stakeholders in the country."

Note: placeholders have been retained as requested.