Buenos Aires Court Orders Polymarket Blocked in Argentina
A Buenos Aires court has ordered Argentinian telecom authorities to block access to prediction market platform Polymarket and to remove its app from local Google and Apple app stores. The decision follows a prosecutor’s investigation alleging Polymarket operated as an unauthorized, concealed online betting site lacking required identity and age-verification, allowing minors to participate. City gambling regulators initiated the case, arguing Polymarket lacked proper authorization. The ruling comes amid increased scrutiny regarding prediction markets’ potential impact on sensitive financial events, such as Argentina’s inflation data releases. This move is part of broader international regulatory actions against such platforms, with Polymarket and others like Kalshi facing restrictions in multiple countries, including France, Germany, and Australia. In the U.S., prediction markets remain legally contentious, with state and federal authorities at odds despite a 2024 federal decision clarifying that event contracts aren't inherently gambling. Legal experts anticipate the dispute may reach the U.S. Supreme Court.
