The post Argentina Orders Nationwide Block on Polymarket Over Gambling Concerns appeared first on Coinpedia Fintech News
Argentina has ordered a nationwide block on Polymarket after authorities said the platform was operating without proper approval. A Buenos Aires court asked internet providers to restrict access and directed Apple and Google to remove the app from their stores.
With this move, Argentina becomes the 34th country to fully restrict the platform.
Argentina Blocks Polymarket Gambling Activity
The case began after complaints from the Buenos Aires City Lottery (LOTBA) and the Argentine Chamber of Casinos (CASCBA).
Authorities said Polymarket was running as an unlicensed gambling platform, letting users place bets with crypto and credit cards without approval.
The case was handled by the gambling prosecutor’s office (FEJA) under Judge Susana Parada. After the ruling, telecom regulator ENACOM was told to block access across the country.
The court also asked Google and Apple to remove the app in Argentina, even for users who already downloaded it.
The decision came after a controversy around Argentina’s inflation data. Reports said Polymarket showed a 2.9% inflation figure about 15 minutes before INDEC released official data.
Concerns Over User Safety and Lack of Controls
In its decision, the court raised concerns about platform risks. Officials said Polymarket allowed users to:
- Create accounts within minutes
- Trade using crypto and credit cards
- Access the platform without identity or age verification
Authorities said these features increased risks, especially for younger users and unregulated betting activity.
Data Leak Incident Added Pressure
The decision followed controversy as Polymarket reportedly showed a 2.9% inflation figure before INDEC’s official release. This raised concerns about data misuse and pushed authorities to tighten rules on crypto-based betting platforms.
Polymarket is now blocked in at least 34 countries, with Argentina joining Colombia in fully restricting the platform.
Although many countries are blocking Polymarket, the U.S. Commodity Futures Trading Commission (CFTC) has taken a different approach. The regulator recently dropped its 2024 draft rule that aimed to ban political prediction markets.
