Argentina Orders Nationwide Block On Polymarket For Unlicensed Gambling Activity
Argentina has ordered a nationwide block on the prediction market platform Polymarket following a ruling by Judge Susana Parada that classifies its operations as unauthorized betting. The court directed internet service providers to restrict access and mandated Apple, Google, and other platforms remove or limit mobile app availability in response to alleged illegal gambling risks tied to unregulated contract trading.
Key Points
-
1Argentina has ordered a nationwide block on the prediction market platform Polymarket following court rulings that classify it as an unauthorized betting service.
-
2Authorities have directed internet providers to restrict access and mandated Apple, Google, or other app stores remove restrictions from mobile applications related to Polymarket.
Developments
A Buenos Aires court ordered a nationwide block of prediction market platform Polymarket after ruling it operated as an unauthorized betting service lacking proper licensing. The decision follows investigations confirming that users could trade on real-world events without identity checks or gambling regulations, with trading volumes spiking around the release of controversial inflation data in Argentina's capital city