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TLDR An Argentine judge has ordered a nationwide block on Polymarket for operating without a gambling licence Google and Apple have been instructed to remove the Polymarket app from their stores in Argentina The investigation found Polymarket allowed rapid account creation with no identity verification or age checks Portugal and the Netherlands have also taken enforcement action against Polymarket in recent months Brazil’s betting regulator said it is monitoring prediction markets after Kalshi launched in the country

A Buenos Aires court has ordered a nationwide block on Polymarket, the cryptocurrency-based prediction market platform. The judge ruled the platform was operating in Argentina without a proper gambling licence.

The court also instructed Google and Apple to remove the Polymarket application from their app stores within Argentina.

The case began after the Buenos Aires City Lottery filed a complaint. The lottery detected Polymarket was operating in the country without authorisation.

The Buenos Aires Specialised Gambling Prosecutor’s Office took up the case. The office described Polymarket as a “covert online betting system” that lacked proper authorisation to operate.

Investigators found that Polymarket allowed users to create accounts quickly without conducting identity verification or age checks. The platform holds no licences registered with the Association of State Lotteries of Argentina.

These findings led the court to take action. The ruling could open the door to further enforcement within the country.

Polymarket has not issued a public response to the matter.

Crypto Prediction Markets Under Pressure in Europe

Argentina is not the only country cracking down on Polymarket. Regulators in Europe have taken similar steps in recent months.

In Portugal, the national regulator declared Polymarket unauthorised to offer betting services. Portuguese law prohibits betting on political events, whether domestic or international.

The Portuguese regulator, known as the Serviço de Regulação e Inspeção

Continue reading...

This post was originally published on this site

TLDR An Argentine judge has ordered a nationwide block on Polymarket for operating without a gambling licence Google and Apple have been instructed to remove the Polymarket app from their stores in Argentina The investigation found Polymarket allowed rapid account creation with no identity verification or age checks Portugal and the Netherlands have also taken enforcement action against Polymarket in recent months Brazil’s betting regulator said it is monitoring prediction markets after Kalshi launched in the country

A Buenos Aires court has ordered a nationwide block on Polymarket, the cryptocurrency-based prediction market platform. The judge ruled the platform was operating in Argentina without a proper gambling licence.

The court also instructed Google and Apple to remove the Polymarket application from their app stores within Argentina.

The case began after the Buenos Aires City Lottery filed a complaint. The lottery detected Polymarket was operating in the country without authorisation.

The Buenos Aires Specialised Gambling Prosecutor’s Office took up the case. The office described Polymarket as a “covert online betting system” that lacked proper authorisation to operate.

Investigators found that Polymarket allowed users to create accounts quickly without conducting identity verification or age checks. The platform holds no licences registered with the Association of State Lotteries of Argentina.

These findings led the court to take action. The ruling could open the door to further enforcement within the country.

Polymarket has not issued a public response to the matter.

Crypto Prediction Markets Under Pressure in Europe

Argentina is not the only country cracking down on Polymarket. Regulators in Europe have taken similar steps in recent months.

In Portugal, the national regulator declared Polymarket unauthorised to offer betting services. Portuguese law prohibits betting on political events, whether domestic or international.

The Portuguese regulator, known as the Serviço de Regulação e Inspeção

Continue reading...