Polymarket intends to challenge France's decision to block its website

Polymarket intends to challenge France's decision to block its website in the country, the prediction markets platform said in a statement on Wednesday.

France's National Gambling Authority (ANJ) had blocked access to the website last week, citing concerns it could expose users to significant gambling losses and that some wagers offered on the platform could be manipulated.

"We are disappointed by the French gaming authority's (ANJ's) sudden decision to unilaterally block our website -- we intend to challenge this decision through the legal process in France," Polymarket said in a statement.

Regulators are increasingly seeking tighter oversight of prediction markets, which allow users to place bets on real-world events, and have exploded in popularity.

In May, the Spanish government temporarily banned Polymarket and its peer Kalshi from operating in the country, while in June, the top US derivatives regulator released new draft regulations for the prediction markets industry.

Reuters

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