365Crypto
Court Orders Nationwide Ban
Argentina has moved against crypto prediction markets.
A Buenos Aires court ordered a nationwide block of Polymarket, a platform where users bet on real-world events.
The ruling claims the service operates as an unlicensed gambling platform, which violates local laws.
Regulator Steps In
The order was sent to the Ente Nacional de Comunicaciones, also known as ENACOM.
This agency must block access to the platform across the country using telecom providers.
If the block fails, the regulator must report back to the court with reasons and technical details.
Investigation Behind the Decision
The case began after a complaint from the Buenos Aires City Lottery, known as LOTBA.
Prosecutors argued that Polymarket allowed users to place bets without strict identity checks.
Officials raised concerns that minors could access the platform and start betting without limits.
Apps Also Targeted
The court did not stop at websites.
It also asked Google and Apple to remove Polymarket apps from their stores in Argentina.
This includes blocking access for current users, not just new downloads.
Users Look for Workarounds
Some users have already discussed ways to bypass the block.
Virtual private networks, or VPNs, are being shared as possible tools to access the platform from outside restrictions.
This creates a familiar cat-and-mouse game between regulators and crypto users.
Rising Scrutiny Around Prediction Markets
Polymarket has faced growing attention in recent months.
Some of its markets linked to Argentina’s inflation showed results close to official data.
This sparked concerns about insider information and market fairness among observers.
A Global Trend
Argentina is not alone in targeting prediction platforms.
Countries like the Netherlands, Hungary, Portugal, and Ukraine have taken similar steps.
In Latin America, Colombia also warned about unauthorized operations tied to such services.
Footnotes
Prediction market: A platform where users bet on outcomes of real-world events.
VPN: A tool that hides a user’s location by routing internet traffic through another country.
