Argentine Court Blocks Polymarket Due to Unlicensed Betting Concerns

A Buenos Aires court has ordered internet providers to block Polymarket, a blockchain-based prediction market, nationwide due to unlicensed online betting concerns.

The platform's lack of proper licensing and identity verification requirements led to the ruling. The court found that Polymarket failed to implement basic age checks and anti-money-laundering measures, allowing rapid account creation and unmonitored trading.

Polymarket allows users to trade on the outcomes of real-world events using cryptocurrency or credit cards. Authorities argue that the platform's structure amplifies the potential for risky behavior and regulatory violations.