After France demanded that internet service providers block the entire Polymarket site, the prediction market platform said it would challenge this through French legal proceedings. The company stated that French users have been unable to trade on the platform since November 2024, and therefore this measure extends to information access.
France orders the entire station to be locked down
The French National Gaming Authority (CNGA) last week ordered operators to block the Polymarket website. Regulators stated that the platform could expose users to financial losses and that some market segments could be manipulated.
Polymarket believes this measure is excessive. The company stated that the block not only targets trading activity but also prevents users who simply want to view market data and real-time probabilities from accessing the website.
The company stated that the transaction had long been discontinued.
The company disclosed that trading functionality for French users had been disabled as early as November 2024, but users could still browse market pages and probability data. This regulatory decision further requires the entire site to be inaccessible.
In a statement, Polymarket said it was surprised by the regulator's decision to block the entire website, as the measures affected users who accessed the platform solely for informational purposes. The company also stated that most visitors were not there to place orders, but rather to assess the probability of future events.
The focus of the dispute is on the product's characterization.
Part of the controversy revolves around how Polymarket contracts should be classified. Polymarket describes them as blockchain-based financial instruments traded directly between users, with prices determined by market activity.
The company also emphasized that it does not participate in user transactions as a counterparty, nor does it profit from the outcome of events, thus differentiating itself from traditional gaming operators. French regulators, however, clearly did not accept this explanation.
Besides France, countries such as Brazil, India, Indonesia, and Romania have also restricted access to Polymarket or designated it as an unauthorized gambling platform. The report also mentions that Ukraine currently lacks a clear legal framework for the platform to operate legally.
Additional information:As of the time of publication, Polymarket had not responded to whether it would also challenge enforcement decisions outside of France.
