• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

CZ Zhao Issues Warning on Hardware Wallet Security Following Major Exploit

chest

CZ Zhao warns cryptocurrency owners about hardware wallet vulnerabilities following a major exploit that resulted in significant losses.

user avatarEmily Carter

Upbit Conducts Major Internal Wallet Reorganization of SHIB

chest

South Korean exchange Upbit has reorganized 864 billion SHIB across its internal wallet addresses as part of a standard internal rebalancing process aimed at managing liquidity and security.

user avatarTomas Novak

Avalanche Staking Value Reaches $20.477 Billion

chest

Avalanche's staking value has reached approximately $20.477 billion, indicating strong network participation.

user avatarMaya Lundqvist

Helicon Upgrade Activated on Fuji Testnet

chest

The Helicon upgrade has been activated on the Fuji testnet, marking a significant step in Avalanche's development.

user avatarKaterina Papadopoulou

Avalanche Awards Grant to YourGrails for Tokenization of Physical Trading Cards

chest

Avalanche's Team1 Accelerator awarded a $30,000 grant to YourGrails for tokenizing physical trading cards, supporting the growth of the real-world asset ecosystem.

user avatarLeo van der Veen

Aave Governance Considers Wind Down of Low-Use V3 Markets

chest

Aave governance is reviewing a proposal to wind down six low-adoption V3 markets and offboard dozens of reserves to reduce operational complexity.

user avatarLi Weicheng

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.