the Rantz gambling regulator is investigating the activities of the decentralized prediction platform Polymarket. Experts will find out whether Polymarket complies with local regulations after a surge in user demand around the US presidential election.
As writes Bloomberg, Autorité Nationale des Jeux (ANJ) will ban access to Polymarket for French users. The investigation began after an anonymous trader, identified by Polymarket as a French national, placed large bets on the platform in favor of Donald Trump winning the presidential race. Trader Fredi9999 made a profit of about $48 million.
“We are aware of this site and are currently studying its operation and compliance with French gambling legislation,” said a representative of the National Gambling Authority.
Online gambling in France is strictly regulated, although betting on sports and poker is permitted. According to the government website, the opening of any new gambling market requires prior approval from the ANJ.
After Donald Trump won the US election, the fortunes of the ten richest people in the world increased by $64 billion in one day. This is the largest daily increase since the launch of the Bloomberg Wealth Index in 2012.
