French Gambling Regulator Considering Polymarket Ban Over Unlicensed Political Betting
France’s gambling regulator ANJ is reportedly considering banning prediction site Polymarket after it gained a lot of attention during the recent US presidential election. This unlicensed platform handled massive volumes of bets worldwide, with its payout on a Donald Trump victory set to reach $450m.
Polymarket is just betting on something that is completely uncertain, which is exactly what gambling is.”
ANJ claims the US-based Polymarket is offering services to people in the country without a proper license. Talking about how the company tries to present itself as a prediction platform rather than a betting site, CoinGape referenced an ANJ insider saying: “Polymarket is just betting on something that is completely uncertain, which is exactly what gambling is.”
A Polymarket user that captured headlines recently and put the platform in ANJ’s sights was a French trader named “Theo,” who bet about $40m on Trump winning the election, paying out up to $80m. In an interview with the Wall Street Journal, Theo rejected claims he was trying to manipulate the market, simply saying he thought Trump was the likely winner.
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