France May Ban Polymarket

According to a report by The Big Whale, French regulator Autorite Nationale des Jeux (also known as the National Gambling Authority) is considering banning Polymarket in Europe due to attention-grabbing bets made by a French national on the 2024 US presidential election.

The organization, based in Paris, has stated that even though Polymarket uses cryptocurrencies, it is still considered a form of gambling and is not legal in France.

The source also mentioned that recent high-profile bets made by the username “Freddi9999” have raised concerns about market manipulation on the platform, with accusations of wash trading also surfacing.

This has led to increased scrutiny from regulatory bodies, potentially leading to a ban on Polymarket in Europe.