Argentina has ordered a nationwide block on Polymarket, escalating regulatory action against crypto-based betting platforms.
A Buenos Aires court directed internet providers to restrict access while instructing Apple and Google to remove the app from their stores.
Authorities said the platform was operating without approval, allowing users to place bets using cryptocurrencies and credit cards.
The move follows growing scrutiny of decentralised prediction markets, especially those intersecting with financial data and gambling activity.
With this step, Argentina becomes the 34th country to fully restrict access to Polymarket.
Gambling probe
The case began after complaints from the Buenos Aires City Lottery and the Argentine Chamber of Casinos.
Both organisations raised concerns that Polymarket was functioning as an unlicensed gambling platform within Argentina.
The matter was handled by the gambling prosecutor’s office under Judge Susana Parada.
Following the ruling, telecom regulator ENACOM was instructed to enforce the restriction nationwide.
Internet service providers were asked to block access immediately.
The court also told Apple and Google to remove the app from their platforms in Argentina, including for users who had already installed it.
This extended the enforcement beyond new downloads to existing access points and ensured wider compliance across digital distribution channels.
Inflation controversy
The case gained urgency following a data-related incident involving Argentina’s inflation figures.
Reports indicated that Polymarket displayed a 2.9% inflation estimate roughly 15 minutes before the official release by INDEC.
The timing raised concerns among authorities about possible data misuse or premature exposure to sensitive economic information.
Regulators viewed this as a significant risk, especially in a platform that operates without formal oversight.
The episode added pressure on authorities to act quickly, linking prediction markets to real-time financial indicators and potential information leaks that could affect market behaviour and public trust in official statistics.
Safety concerns
In its ruling, the court highlighted risks tied to how the platform operates.
Officials said users could create accounts within minutes and begin trading immediately.
Polymarket allowed transactions through cryptocurrencies as well as credit cards.
Authorities also pointed to the absence of identity checks and age verification systems.
These gaps were seen as increasing exposure to underage users and enabling unregulated betting activity.
Regulators said such features could amplify financial and social risks in an environment lacking proper controls and consumer protection safeguards.
Global divide
Argentina’s action places it alongside countries that have imposed full restrictions on Polymarket, including Colombia.
The platform is now blocked in at least 34 jurisdictions.
At the same time, regulatory approaches remain inconsistent across regions.
In the United States, the Commodity Futures Trading Commission has taken a different path.
The regulator recently dropped its 2024 draft rule that aimed to ban political prediction markets.
This contrast highlights ongoing uncertainty around how governments classify and regulate platforms that combine elements of finance, speculation, and gambling, particularly as digital assets continue to expand across global markets.
As more countries examine crypto-based betting models, Polymarket faces tightening access globally while regulatory frameworks continue to evolve.
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