French regulator launches review of crypto prediction platform Polymarket

Nov. 7， France's National Gaming Authority (ANJ) is reviewing the operations of cryptocurrency-based prediction market platform Polymarket to determine whether it complies with local rules, following a surge in user demand for the platform during the U.S. presidential election.An ANJ spokeswoman said Thursday, “We are aware of the site and are currently examining its operations and compliance with French gambling regulations.” The ANJ is expected to ban French users from accessing Polymarket, crypto news outlet The Big Whale reported late Wednesday, after Polymarket identified an anonymous trader as a French national who was making large bets on the platform in favor of Trump winning the election. Calculations show that the trader, who goes by the username Fredi9999, is expected to make around $48 million in betting profits across four accounts. According to the government website, operating any new gambling market requires prior authorization from the ANJ.