France Blocks Polymarket Over Illegal Gambling Allegations
France’s gambling regulator, ANJ, has ordered internet providers to block access to crypto prediction market Polymarket. The move follows allegations that Polymarket offers illegal betting services and could expose users to heavy betting losses.
ANJ said the platform draws a large audience and operates outside France’s gambling rules. It also warned that some wagers may be vulnerable to market manipulation. The block will remain until Polymarket complies with French requirements.
The action is part of a broader European crackdown on crypto-linked event contracts. Reuters noted earlier pressure in Spain: in May, Spanish authorities temporarily banned Polymarket and Kalshi from operating there. Regulators across the region have increasingly questioned whether prediction markets should be treated as gambling or as financial-market products.
For traders, the Polymarket restriction highlights rising regulatory risk for onchain prediction platforms in Europe, even as demand appears strong. Reuters also cited a source saying Polymarket’s annualized revenue exceeded $1 billion last month.
Polymarket had not publicly responded to the French order at the time of reporting.
Bearish
This is likely bearish for market sentiment around crypto prediction/iGaming products. France ordering ISPs to block Polymarket adds an immediate, country-level access constraint, which mirrors earlier EU actions (e.g., Spain’s temporary ban in May). Even though the article does not cite a specific tradable token, the regulatory posture can still impact broader risk appetite for onchain derivatives of real-world events.
Short-term: Traders may price in higher headline risk and potential liquidity/partner disruptions for event-contract platforms, especially those without local licensing. Expect a “risk-off” tone within the crypto betting/prediction sub-sector and higher volatility around regulatory news.
Long-term: If this pattern continues, market access may increasingly depend on licensing and compliance frameworks rather than user demand. That could reduce the addressable market for such platforms in tighter jurisdictions, while pushing operators toward restructuring, localization, or exit—keeping regulatory overhang elevated.
However, the Reuters note that Polymarket’s annualized revenue exceeded $1B suggests demand remains strong. That can soften the immediate downside by implying eventual regulatory adaptation rather than permanent collapse.