A court in Buenos Aires has ordered a nationwide block of Polymarket, citing concerns that the crypto-based prediction platform operates as an unlicensed online betting system.
The ruling, issued by Judge Susana Parada, directs internet service providers to restrict access to the site across Argentina and requires Google and Apple to remove or limit access to its mobile applications, according to a report from local outlet Buenos Aires Times.
Prosecutors said the platform allowed users to place wagers without identity or age verification, enabling accounts to be created within minutes. Authorities argued that such gaps left minors able to participate without controls.
The investigation was triggered by a complaint from Buenos Aires’ gambling regulator, which said the platform was operating without authorization in the jurisdiction. Officials also said checks with national lottery bodies found no evidence that Polymarket held licenses in Argentina.
Scrutiny intensified after trading activity linked to Argentina’s inflation data drew attention, according to local reports. Trading volume on a Polymarket contract tied to February inflation rose to roughly $91,000 shortly before official figures were released, which some observers said raised questions about a potential information leak.
The Block reached out to Polymarket for comment.
Global crackdown on prediction venues
Regulatory pressure on prediction markets has mounted globally in recent months. Several European countries, including Portugal, the Netherlands, Germany, and Italy, have already restricted access to Polymarket, while other jurisdictions, such as Colombia, have taken similar action.
The platform itself maintains geo-restrictions in multiple regions to comply with local laws, blocking users in parts of Europe, Asia, and sanctioned jurisdictions.
Regulators have increasingly focused on whether prediction markets resemble financial instruments or unlicensed gambling venues. Concerns have ranged from consumer protection to market integrity, particularly where contracts touch on sensitive real-world events.
Recent controversies have also kept the sector in focus. Polymarket has faced backlash over certain high-profile markets and reports of alleged insider-linked betting activity.
The platform is also navigating legal challenges in the United States as authorities work toward clearer rules. In Washington, the Commodity Futures Trading Commission has signaled plans to establish a federal regulatory framework for prediction markets while some states crack down on sector leaders like Polymarket and Kalshi.
