URGENT: France Might Ban Polymarket

France’s gambling regulator, ANJ, is considering a ban on Polymarket, a popular crypto-based prediction platform, over potential violations of French gambling laws. The decentralized platform allows users to bet on real-world events using crypto, recently surging to $2.5 billion in bets in October due to the US presidential election hype.

While headquartered in New York, Polymarket’s operations still fall under French gambling regulations, which consider prediction markets a form of betting. ANJ's investigation may result in restricted access for French users.

The platform has been buzzing with high-stakes bets on the US election. One French trader, pseudonymously known as Fredi9999, reportedly bet $20 million on Trump’s win, with potential gains near $50 million.

Although Polymarket blocks US residents, the platform has become a go-to hub for international users, reflecting crypto’s potential to redefine betting boundaries worldwide.

The final decision from France could set a precedent for how prediction markets using crypto are regulated in Europe. For now, ANJ is closely examining Polymarket’s compliance with local laws.

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