The French National Gaming Authority (ANJ) has issued strict warnings against prediction markets operating without proper licenses. These platforms allow wagers on global political and sporting outcomes, but lack essential consumer protections.

Surge in Trading Volumes

  • Platforms like Polymarket and Kalshi recently processed nearly $40 billion globally.
  • Authorities are concerned about addictive behaviors and potential financial harm.

Regional Enforcement Efforts

  • Germany: bans wagers on elections, rejecting “information provider” defenses.
  • Netherlands: ordered Polymarket to cease operations under threat of penalties.
  • Portugal, Ukraine, Hungary, Belgium, Romania: full access bans to these platforms.

Fragmented EU Market

European regulators face challenges due to:

  • Decentralized blockchain platforms making enforcement difficult.
  • Differing national laws limiting consistent market regulation.

Future Regulatory Moves

France continues to:

  • Hunt for illegal mirror sites.
  • Enforce geo-blocking to prevent local users from depositing offshore.

European regulators are exploring unified frameworks for blockchain-based betting platforms to better protect consumers while managing complex cross-border operations.