Argentina Blocks Polymarket as Unauthorized Betting

Argentine authorities have imposed a nationwide block on the prediction market platform Polymarket, following a court ruling in Buenos Aires on March 16 that deemed the service an unauthorized online betting operation. The decision, issued by Judge Susana Parada, directs the National Communications Entity (ENACOM) to coordinate with internet service providers and app stores to restrict access across the country, including removal of the platform's applications from Android and iOS stores for Argentine users.

The ruling stems from concerns over Polymarket's operations, which allow users to create accounts easily, deposit funds via cryptocurrency or credit cards, and participate without age or identity verification. Officials highlighted these features as increasing risks for minors and exposing users to unregulated gambling. The platform's prediction markets, which enable wagers on real-world events, were classified as an illegal betting system lacking proper licensing in Argentina.

The action was triggered by suspicious activity on a market forecasting Argentina's February inflation rate. Data showed the platform's prediction shifting dramatically about 15 minutes before the...