Argentina orders nationwide block of Polymarket as scrutiny of prediction markets grows: report

A court in Buenos Aires, led by Judge Susana Parada, has mandated a nationwide block of the crypto-based prediction platform Polymarket, directing ISPs to restrict access and requiring Google and Apple to remove its mobile apps. The ruling stems from concerns that Polymarket operates as an unlicensed online betting system, allowing wagers without proper identity or age verification, which could expose minors to participation.

The investigation was initiated by Buenos Aires’ gambling regulator after finding Polymarket lacked authorization or licenses in Argentina. Scrutiny increased following high trading volume on a contract related to February's inflation data just before official figures were released, raising suspicions of potential information leaks.

This action is part of a growing global trend of regulatory pressure on prediction markets, with several European countries and Colombia already restricting Polymarket. Regulators worldwide are debating whether these platforms constitute unlicensed gambling or financial instruments, focusing on consumer protection and market integrity, especially concerning sensitive real-world events.

(Source：The Block)