The French National Gaming Authority is reportedly planning to block Polymarket, a blockchain-based prediction market platform that saw $3.5 billion in trading volume during the U.S. presidential election. The regulator is currently examining Polymarket’s operation and its compliance with French gambling legislation.
The platform’s massive bets sparked manipulation concerns, but the bettor revealed their identity to the Wall Street Journal, confirming that they placed over $30 million in bets over the U.S. elections. Despite skepticism about its predictive value, Polymarket correctly signaled both Biden’s withdrawal from the presidential race and Trump’s victory weeks before the events occurred.
