PANews reported on November 7 that the French gambling regulator (ANJ) is preparing to ban access to the crypto prediction platform Polymarket in France. Polymarket allows users to place cryptocurrency bets on the probability of various events, especially during the US presidential election, attracting a large amount of trading volume. On November 5, the single-day trading volume reached US$294 million, and the total bet amount exceeded US$3.2 billion.
Sources pointed out that although Polymarket uses cryptocurrencies to operate, its essence is still a gambling activity, which is considered illegal under French law. ANJ has stated that it is reviewing the compliance of the platform and plans to restrict its access in France through domain name blocking and other means. However, since Polymarket only requires an encrypted wallet to register, users can bypass the blockade through VPN.
