France orders internet service providers to block Polymarket over licensing violations

France’s gambling regulator, the National Gambling Authority (ANJ), has instructed the country’s internet service providers to prevent access to the prediction market Polymarket, citing a lack of proper authorization under French gambling law, according to Reuters. The ANJ stated that the block will remain in place until the platform satisfies the standards imposed on the gambling industry by French authorities. No specific timetable was offered for when or if that compliance might be achieved.

Among the regulator’s concerns were bets placed on weather events, which the ANJ suggested could involve the use of insider information. The agency also highlighted the risk of users suffering significant financial losses through the platform’s betting mechanism.

France is the latest jurisdiction to take action against prediction markets. In May, Spain’s government imposed a temporary suspension on both Polymarket and Kalshi for operating without gambling licenses. More recently, pressure from Ireland’s Gambling Regulatory Authority (GRAI) led Polymarket to geoblock the country, expanding its list of restricted jurisdictions to 37. In the United States, the Commodity Futures Trading Commission published draft rules in June aimed at regulating the prediction market sector.

Polymarket and its competitor Kalshi allow users to place bets on outcomes ranging from sports and elections to geopolitical developments, including events related to conflicts in Iran and Ukraine. Some legislators have pushed for tighter oversight, arguing that certain wagers serve no economic purpose and may harm the public interest.

Despite the mounting regulatory pressure, Polymarket’s business has grown substantially. A source familiar with the company’s finances told Reuters that its annualized revenue had exceeded $1 billion as of last month.