Authored by Zoltan Vardai via CoinTelegraph.com,
France’s Autorité nationale des jeux (ANJ), or the National Gambling Authority, has ordered internet service providers to block access to Polymarket.
Prediction websites are considered illegal gambling, the ANJ said in a Friday press release.
The regulator said that Polymarket’s operations are not authorized in France and that advertising unauthorized gambling sites constitutes a criminal offense with fines of up to 100,000 euros ($114,000).
Prediction markets allow users to buy and sell contracts tied to the outcomes of future events, from elections and sporting events to economic data and geopolitical developments. Polymarket has surged in popularity over the past two years, with billions of dollars in trading volume, while drawing scrutiny from regulators over whether its event contracts constitute illegal gambling or unlicensed financial products.
Countries that blocked access to Polymarket include Singapore, Poland, Portugal, Hungary, READ MORE AT SOURCE »
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