An Argentinian judge has ordered a nationwide block on cryptocurrency-based prediction market platform Polymarket, citing its failure to hold a valid gambling licence in the country.

The ruling, issued by a Buenos Aires court, also requires Apple and Google to remove the application from their app stores in Argentina, significantly limiting access to the platform.

Court action follows regulatory investigation

The decision follows an investigation led by Buenos Aires’ Specialised Gambling Prosecutor’s Office, which classified Polymarket as a “covert online betting system” operating outside the legal framework.

The probe was initiated after a complaint from the Buenos Aires City Lottery, which identified the platform as offering services to local users without authorisation.

Authorities found that Polymarket allowed users to create accounts rapidly without conducting identity verification or age checks, raising concerns around consumer protection and compliance. The platform was also confirmed to hold no licence from Argentina’s Association of State Lotteries.

Growing global scrutiny of prediction markets

The case reflects a broader trend of increased regulatory pressure on crypto-based prediction markets across multiple jurisdictions.

In Portugal, regulators recently ruled that Polymarket was operating illegally, particularly highlighting the prohibition of betting on political events. This followed a surge of more than €100 million in election-related wagers on the platform.

Similarly, the Dutch regulator KSA has taken enforcement action against Polymarket for operating without a licence, while Brazil’s betting authority has confirmed that prediction markets are under active regulatory review, with no operators currently authorised.

Signal of stricter enforcement ahead

The Argentine ruling may mark the beginning of wider enforcement efforts against unlicensed digital betting platforms, particularly those operating in regulatory grey areas such as prediction markets and crypto-based wagering.

By targeting both platform access and distribution channels, authorities are signalling a more coordinated approach to limiting illegal gambling activity and strengthening market oversight.

Sources: IGB