France Considers Ban on Polymarket Following US Elections

user avatar

by Giorgi Kostiuk

2 years ago

Polymarket, a platform for betting on virtually any topic, gained popularity during the US elections. However, France is considering blocking the site.

Polymarket's Popularity

Polymarket became the center of attention due to its facility for placing bets on diverse events such as sports results, asset prices, and political events. Over $3.2 billion was wagered on the US elections, with $294 million recorded on November 5th.

Bets Considered As Gambling

French regulators view bets on Polymarket as gambling activities. William O’Rorke from ORWL Avocats stated that it fits the gambling definition since users bet money on random events.

French Regulators' Reaction

The attention of French authorities was drawn by an unknown trader who bet over $30 million on Trump's victory. Despite potential domain blocks, users may bypass these using VPNs, as Polymarket doesn’t require proof of citizenship upon registration.

French regulators are seriously concerned with Polymarket's activities and are considering a ban on the platform. Nevertheless, tech-savvy users could counteract these measures.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.