Do you know Polymarket? The predictive markets platform received a lot of attention during the last American elections. Its success even ended up attracting the attention of the French authorities, if the information on the site is to be believed. The Big Whale.
What is Polymarket?
Remember that this American platform allows its users to bet on various scenarios concerning sport, financial markets, or even future political and geopolitical events. Internet users bet cryptocurrencies on what could happen and possibly recover their winnings depending on what happens.
According to a source from our colleagues at the National Gaming Authority (ANJ), this service is similar to a game of chance. He emphasizes thus: “Even if Polymarket uses cryptocurrencies in its operation, it remains a betting activity and it is not legal in France”.
Questioned through official channels, the ANJ declared to The Big Whale: “We are aware of this site and we are currently examining its operation as well as its compliance with French gambling legislation. »
If this were the case, its domain name would be blocked on national territory. A prospect which would slow down its activities but would not prevent the smartest from accessing it, in particular by using VPNs.
Polymarket and the American elections
Remember that the platform hit the headlines in France after a French trader decided to bet nearly 30 million euros on a victory for Donald Trump. It seems that this is precisely what aroused the curiosity of the French authorities, according to The Big Whale.
In fact, this service was also widely criticized during the electoral campaign. Indeed, the more a bettor puts on the market, the more he will weigh in favor of a candidate. The fact that the evolution of shares is displayed in the form of percentages may suggest that it is a survey, underlines France Infobut this is not the case.
Supporters of Donald Trump, including Elon Musk, happily shared these biased figures to highlight the popularity of their foe, even though Americans were not allowed to bet.
Critics of the service finally express their concerns regarding risks of corruption or gamification of the political system. In the United States, a judicial decision recently authorized platforms to accept bets linked to this theme and we could therefore see this type of initiative multiply.
