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Polymarket Under Investigation in France
French authorities are investigating Polymarket, a prediction market platform, following a large payout to a French trader and its lack of authorization in France. The platform has also been suspended in the US.
French
France
PoliticsUs PoliticsFranceInvestigationFinanceRegulationGambling
PolymarketAnj (Autorité Nationale Des Jeux)New York Post
Donald TrumpTaylor Swift
- What is Polymarket's status in the United States?
- Polymarket has already been suspended by regulators in the United States. American users can still access the site through a VPN, despite this suspension.
- What types of events can users bet on using Polymarket?
- Polymarket offers a wide range of prediction markets, including bets on political events such as the war in Ukraine, as well as other subjects like cryptocurrency prices and celebrity events. The platform has seen hundreds of millions of dollars in bets.
- What triggered the French investigation into Polymarket?
- A French trader won $48 million on Polymarket by betting on Donald Trump's victory in the US presidential election. This massive win triggered the French investigation.
- What is Polymarket and why is it under investigation in France?
- Polymarket, an online prediction market platform, is under investigation by French authorities for its operations in France. The platform allows users to bet on various political, social, and cultural events, and a significant win by a French trader has raised concerns.
- What actions are French authorities taking regarding Polymarket?
- The French gambling authority, ANJ, is investigating Polymarket's compliance with French gambling laws. The platform is likely to be banned in France for operating without the required authorization from ANJ.