- Argentina orders nationwide block of Polymarket over consumer protection concerns
- Court directs ENACOM to enforce restrictions via internet service providers
- Google and Apple instructed to remove Polymarket apps locally
- Platform accused of operating as online betting system without safeguards
- Over 30 countries now restricting Polymarket globally
Argentina Moves to Block Polymarket Nationwide
Argentina has ordered a nationwide block of the prediction market platform Polymarket, citing consumer protection concerns and regulatory violations. The move places the country among more than 30 jurisdictions that have taken action against the platform.
A Buenos Aires court issued the directive, instructing the National Communications Entity (ENACOM) to coordinate with local internet service providers (ISPs) to implement the restriction. In addition, major app platforms have been ordered to remove Polymarket from local digital stores, effectively limiting access across both web and mobile channels.
Concerns Over Consumer Protection and Compliance
Authorities raised concerns about the platform’s operational model, particularly its use of crypto payments and credit card deposits. Officials also highlighted the absence of robust age and identity verification systems, which could potentially allow minors to participate.
The investigation concluded that Polymarket functioned as an online betting system rather than a purely informational prediction platform. The case originated from complaints filed by the Buenos Aires City Lottery (LOTBA) and the Argentine Chamber of Casinos and Bingos (CASCBA), and was pursued by the Specialized Prosecutor’s Office for Gambling (FEJA), with technical support from judicial authorities.
Suspicion Triggered by Inflation Prediction Activity
According to local reports, scrutiny intensified after Polymarket appeared to anticipate Argentina’s February inflation rate of 2.9%. The platform reportedly reversed its prediction trend shortly before the official data release, raising concerns among regulators about possible irregularities or access to sensitive information.
Enforcement Measures and Implementation: While the blocking order has been issued, enforcement depends on coordination between ENACOM and internet service providers. Due to the structure of internet governance and local legal processes, ISPs must be formally notified before implementing the final restrictions.
Growing Global Crackdown on Prediction Markets
Argentina’s decision reflects a broader global trend of increased regulatory scrutiny on prediction markets.
- Colombia previously banned Polymarket through its gambling authority
- Dutch regulators recently ordered the platform to cease operations
- In the United States, lawmakers have proposed restrictions on event-based contracts tied to sensitive topics
These developments indicate rising concerns among regulators about the classification and oversight of such platforms.
