French regulator launches scrutiny of crypto prediction platform Polymarket

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Cointime2024/11/07 11:44

By:Cointime

the French National Gaming Authority (ANJ) is reviewing the operation of the cryptocurrency-based prediction market platform Polymarket to determine if it complies with local regulations, as demand from users surged during the U.S. presidential election. An ANJ spokesperson said on Thursday, "We are aware of this website and are currently checking its operation and compliance with French gambling regulations." According to the cryptocurrency news media The Big Whale on Wednesday night, ANJ is expected to ban French users from accessing Polymarket.

Previously, Polymarket confirmed that an anonymous trader was French and had placed large bets on the platform in support of Trump winning the election. Calculations show that the trader, whose username is Fredi9999, is expected to earn about $48 million in betting profits from four accounts. According to government website regulations, operating any new gambling market must be authorized by ANJ in advance.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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