Summary Review: France’s gambling authority, the Autorité nationale des jeux (ANJ), is reviewing Polymarket, a cryptocurrency-based prediction platform, for potential non-compliance with French gambling laws. This review comes amid growing interest in betting related to the 2024 U.S. presidential election.
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- The ANJ confirmed it is investigating Polymarket’s operations, which could lead to a ban for users in France. The platform, which allows bets on real-world events via cryptocurrencies, has gained traction during the U.S. election season, with reported bets reaching $2.5 billion as of October.
Despite being headquartered in New York and inaccessible to U.S. residents, Polymarket remains popular in France and other countries. A major French user, known as “Fredi9999,” reportedly bet around $20 million on Donald Trump’s potential win, potentially earning up to $50 million in profits.
According to a source close to the ANJ, Polymarket is seen as a gambling service subject to French laws, regardless of its cryptocurrency focus, and therefore may be prohibited in the near future if it doesn’t meet regulatory standards.
Summary Review: France’s gambling authority, the Autorité nationale des jeux (ANJ), is reviewing Polymarket, a cryptocurrency-based prediction platform, for potential non-compliance with French gambling laws. This review comes amid growing interest in betting related to the 2024 U.S. presidential election.
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