Argentina Blocks Access to Prediction Market Platform Over Unlicensed Gambling Activities

Argentina has taken action against Polymarket, a popular prediction market platform, following a court ruling that deemed it an unauthorized betting service.

The decision was made after an investigation by Prosecutor Juan Rozas found that Polymarket allowed users to trade on real-world events without adhering to gambling regulations. The platform's lack of identity and age checks enabled unrestricted participation, including from minors.

Prosecutors also stated that Polymarket facilitated payments via cryptocurrencies and credit cards without applying the necessary controls for regulated betting operations.