France blocks access to betting site Polymarket
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The webpage of online prediction site Polymarket will be blocked on French territory, French officials said.
PHOTO: AFP
- France blocks access to Polymarket and bans financial transactions to the site, citing illegal advertising and rising visits from French users despite the ban.
- The national gaming authority ANJ warns that promoting unauthorised betting sites is a criminal offence with fines up to €100,000.
- Incidents linked to prediction markets include a hacked weather probe for fixing bets and US federal charges against a soldier using classified information to gamble.
AI generated
PARIS - France said on July 17 it was blocking access to the online prediction market Polymarket, as punters continued to make bets despite a ban already in place.
The national gaming authority ANJ said on July 17 that Polymarket’s webpage would be blocked on French territory, which adds to a November 2024 ban on financial transactions to the site.
Polymarket is one of a number of online prediction markets which allow people to bet on the outcome of future events.
The ANJ said the site’s continued availability – where betting odds on different events are updated in real time – constituted advertising.
“Advertising, by any means whatsoever, in favour of an unauthorised betting or gambling site is a criminal offence,” the ANJ said, and noted the fines could reach €100,000 (S$147,000).
The regulator said that despite the ban on transactions from French accounts, visits from French internet addresses to Polymarket’s site have been rising, hitting 578,751 in June.
The betting markets have caused a number of problems.
France’s weather agency Meteo-France filed a complaint in April after one of its weather probes was hacked in order to fix bets on Polymarkets.
A US soldier is facing federal charges for using classified information to bet on online prediction markets related to the US operation in January to capture former Venezuelan president Nicolas Maduro. He allegedly made more than $400,000.
The White House said on July 16 a teleprompter operator had been suspended over allegations he placed bets with a prediction market on the content of US President Donald Trump’s speeches.
France is one of a number of European countries that restrict or block access to online prediction markets such as Germany, Italy and Spain, according to the ANJ.
France allows online sports betting. AFP
