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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.

The post French Gambling Regulator Considering Polymarket Ban Over Unlicensed Political Betting appeared first on Vegas Slots Online News.

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