French users have been restricted from accessing the Polymarket prediction platform, and the website is now in “view-only” mode. This was reported by journalist Gregory Raymond of The Big Whale.
🔴 Info @TheBigWhale_
— Grégory Raymond 🐳 (@gregory_raymond) November 22, 2024
Comme nous le révélions il y a 2 semaines, @Polymarket n'est désormais plus accessible depuis la France 🇫🇷
On ne peut plus placer de paris
Un vœu pieux, car j'ai réussi à en placer un grâce à un VPN pic.twitter.com/7YMXV6dafy
The restriction came two weeks after the National Gambling Authority of France (ANJ) began an investigation.
The regulator’s attention was drawn by a local trader under the nickname Theo4, who placed a bet of over $30 million on Donald Trump’s victory in the U.S. presidential elections. According to Polymarket, his net profit amounted to approximately $19 million.
As of the time of writing, no official statement has been released by the betting platform or ANJ.
Raymond pointed out that he was still able to place a bet on Polymarket despite the restrictions:
“We can no longer place bets. [The authorities] are presenting wishes as facts, as I managed to place it through a VPN.”
In the months leading up to the U.S. presidential election, activity on the platform saw a significant surge. Players worldwide wagered over $3.2 billion on the event.
According to Dune Analytics, after Trump’s victory, betting volumes on Polymarket dropped sharply — from a record $371 million on November 5 to the current $54 million.
It’s worth noting that on November 13, FBI agents conducted a search at the apartment of Polymarket CEO Shane Kaplan in Manhattan, USA. Reports indicate that authorities seized his phone and other electronics.
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