France May Ban Polymarket After $3.5B Bets, $48M Trump Winnings

Nov 7, 2024, 11:19 AM

France's National Gaming Authority (ANJ) is examining the operations of Polymarket, a blockchain-based prediction market platform, following a surge in user demand around the US presidential election. Polymarket reportedly raked in $3.5 billion during the election period. The regulator stated, "We are aware of this site and are currently examining its operation and compliance." A French trader potentially made $48 million in winnings by betting on former President Donald Trump, prompting increased scrutiny. Polymarket, which is already banned for US users, may face restricted access or a potential ban in France as the investigation continues.