The French regulator has cracked down on Polymarket, the cryptocurrency-based online market prediction platform that attracted attention during the US election.
L’Autorité Nationale des Jeux (ANJ) said it approached the operator of the website after concluding its services could “likely” be ruled to offer unauthorised gambling and games of chance.
After this approach, the ANJ said Adventure One Qss decided to implement geo-blocking to prevent players in France from accessing its services.
Polymarket attracted significant attention in the run-up to the US presidential election after a French trader made over US$46m in profit after betting over $50m on Donald Trump returning to the White House.
The Independent reported concerns that the bets made Trump appear to be the favourite to win the election when polls were suggesting the race was much tighter.
The Federal Bureau Investigation (FBI) raided the home of Polymarket chief executive Shayne Coplan as part of its investigation and seized his phone and computers.
