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France’s National Gambling Authority has directed the country’s internet service providers to cut off access to Polymarket after determining that the site was operating without proper authorization under French gambling law, Reuters reported.
A spokesperson for the regulator indicated that the block would stay active until Polymarket meets the standards French authorities apply to the gambling sector. No timeline was given for when, or whether, that compliance might occur.
Among the specific issues raised by the French authority were wagers placed on weather outcomes, which regulators said may have involved the use of insider information. The agency also pointed to the potential for users to incur substantial losses through the platform’s betting structure.
France joins a growing list of jurisdictions moving against prediction markets. Spain’s government imposed a temporary suspension on both Polymarket and Kalshi in May due to the absence of gambling licenses.
This week, pressure from the Gambling Regulatory Authority of Ireland (GRAI) prompted Polymarket to geoblock the country, adding it to a restricted list of 37 jurisdictions.
Meanwhile, in the US, the Commodity Futures Trading Commission put forward draft rules in June aimed at governing the prediction markets sector.
Polymarket and Kalshi let users place wagers spanning sports outcomes, elections, and geopolitical events, including developments tied to conflicts in Iran and Ukraine. Some lawmakers have pushed for stricter oversight, arguing that certain bet types carry no economic function and pose risks to the public interest.
The regulatory pressure comes as Polymarket’s business has expanded substantially. A source familiar with the company’s finances told Reuters that its annualized revenue had exceeded $1 billion as of last month.