Polymarket Suspends Access for French Users Amid Compliance Investigation

According to BlockBeats, decentralized prediction market platform Polymarket has announced the suspension of access for French users. This decision follows an investigation by the French National Gambling Authority (ANJ) into the platform's compliance with gambling regulations. The investigation was initiated after a French trader placed a significant bet on the platform regarding the potential victory of Donald Trump in the 2024 U.S. presidential election. Despite the implementation of IP bans by Polymarket, reports from the French cryptocurrency news site The Big Whale indicate that users can still access the platform using VPNs. As of the time of reporting, Polymarket's terms of service have not been updated to reflect these new restrictions. The situation highlights ongoing challenges in regulating decentralized platforms, especially in jurisdictions with stringent gambling laws. The outcome of the ANJ's investigation could have broader implications for similar platforms operating in France and potentially influence regulatory approaches in other regions.