France’s National Gambling Authority (ANJ) ordered internet service providers to block Polymarket, a crypto prediction market that settles trades in USDC on the Polygon network, according to The Block.
The order cites illegal gambling promotion and manipulable wagers, carrying fines of up to 100,000 euros ($114,000) for promoting an unlicensed platform. The timing lands days before Polymarket’s largest contract ever, the World Cup Winner market, settled on more than $4 billion in onchain volume.
Why France’s Gambling Regulator Ordered the Block
The ANJ said in a Friday statement that its president issued the order because Polymarket’s homepage advertises live odds even where trading is restricted, calling that an unauthorized gambling promotion. It also flagged wagers that appeared to be manipulated, pointing to weather bets where sensors may have been compromised, a finding that prompted a Paris cybercrime investigation opened on May 4.
The order escalates a restriction in place since November 2024, when Polymarket first cut off French trading after an earlier notice, which the ANJ detailed on its own site, pushing the platform to geoblock French users. France now joins the Czech Republic, which ordered its own block on July 13, and Brazil, which banned prediction platforms in April.
How Polymarket’s Crypto Structure Complicates the Fight
Polymarket is not a licensed sportsbook on a company ledger. Every contract settles through smart contracts on Polygon, an Ethereum scaling network, using USDC, a dollar-pegged stablecoin, according to The Block, which reported the platform’s shift toward Circle’s native USDC earlier this year.
That crypto-native structure helps explain why regulators disagree so widely, since a blockchain-settled contract fits no existing gambling or securities category cleanly, and France chose to treat it as illegal betting outright.
A Widening Regulatory Crackdown
Volume on these platforms keeps climbing even as the regulatory map stays uneven, with more countries moving against them, developments our news hub has been tracking closely. Combined monthly volume across Kalshi, Polymarket, and Polymarket’s international exchange hit $44.8 billion in June, a 75% jump from May, all settled onchain rather than through a broker-dealer.
Whether Polymarket Will Comply or Fight the Order
The block stays active until Polymarket complies with French rules, and the company has not said whether it will pursue a license or contest the order. Polymarket did not respond to The Block’s request for comment. French traders will be shut out through Sunday’s final between Spain and Argentina, the match settling the $4 billion contract at the center of this dispute.
What This Means for You
If you trade prediction markets from France, Polymarket’s crypto wallet access is unreachable through the platform’s own site, so any workaround carries no clear legal protection.
This article is for informational purposes only and does not constitute financial advice. Do your own research before making any investment decisions.
