Argentina Bans Prediction Platform Polymarket
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Argentina Bans Prediction Platform Polymarket, Citing Gambling Risks and Lack of Safeguards
Argentina has joined the growing list of countries restricting the prediction market platform Polymarket, following a court ruling that deemed it operated without local approval and exposed users to gambling risks. The communications regulator ENACOM has ordered internet providers to block the site and its domains, while Apple and Google have been instructed to remove or limit the apps for users in the country. The ban was initiated by the City of Buenos Aires Lottery and a casino industry group, who argued that Polymarket acted like a betting site on politics, inflation, wars, and big news events. Prosecutors highlighted the platforms weak safeguards, such as quick sign-ups via crypto or credit cards with no strong age or identity checks, which leaves minors and vulnerable people at risk. Argentina now joins over thirty countries, including France, Germany, Italy, Australia, and Poland, in restricting Polymarket.
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