Summary Polymarket will challenge France's decision to block its platform, arguing the gambling regulator's action should be reviewed through the courts.
PARIS (Reuters) – Prediction markets platform Polymarket said it will challenge France's decision to block access to its website, vowing to contest the move through the country's legal system.
France's National Gambling Authority (ANJ) blocked the platform last week, citing concerns that users could be exposed to significant gambling losses and that some markets offered on the platform could be vulnerable to manipulation.
"We are disappointed by the French gaming authority's sudden decision to unilaterally block our website, and we intend to challenge this decision through the legal process in France," Polymarket said in a statement.
Prediction markets, which allow users to wager on the outcomes of real-world events, have grown rapidly in popularity and are facing increasing regulatory scrutiny worldwide.
Earlier this year, Spain temporarily banned Polymarket and rival platform Kalshi from operating in the country, while the U.S. derivatives regulator released draft rules in June aimed at strengthening oversight of the prediction markets industry.
