Argentina Enforces Nationwide Ban on Prediction Market Platform Polymarket

Argentina has moved to block access to the prediction platform Polymarket across the entire country following a court decision that found the service operating outside legal boundaries. The ruling issued by a Buenos Aires judge marks the first time a Latin American nation has imposed a full restriction on the site.

Argentina Cracks Down on Polymarket After Inflation Data Controversy

Authorities concluded that the platform, which allows users to wager on real-world outcomes, functions as an unlicensed betting service. As a result, internet providers have been instructed to restrict access, while major tech companies have been told to remove or limit the availability of the platform’s mobile applications for local users, reported local media outlet Clarin.

The Buenos Aires City Lottery started the case with representatives of the casino industry. They argued that Polymarket went around national gambling regulations. Investigators found that the platform allowed users to put money on yes-or-no outcomes related to topics ranging from political developments to global conflicts, without the safeguards required for legal betting operations.

Concerns grew after unusual activity linked to Argentina’s February inflation data drew attention. According to findings reviewed during the investigation, market behavior on the platform shifted before the official figure was released, aligning with the final number ahead of time. Officials interpreted this as a possible sign that sensitive data may have been accessed rather than a reflection of predictive accuracy.

Weak Controls and Crypto Use Drive Argentina’s Polymarket Ban

Regulators stressed that their main focus remained on compliance issues and user protection. The platform allowed deposits via cryptocurrencies and credit cards while lacking reliable identity verification systems. It was also noted that accounts could be created within minutes, raising the risk of access by minors and vulnerable individuals.

The court determined that these factors exposed users to financial and legal risks while failing to meet the standards required for licensed gambling services. Authorities further highlighted the absence of strict monitoring mechanisms, including procedures to verify user identities or prevent misuse of funds.

Putting the ban into action is being coordinated through Argentina’s communications regulator, which is responsible for ensuring that internet service providers enforce the restrictions. The effectiveness of the measure will depend on cooperation from both telecom companies and global app store operators.

Argentina now joins a growing list of countries that have taken action against Polymarket. More than 30 jurisdictions, including several in Europe and Australia, have already limited or blocked access to the platform. This reflects broader concerns about how decentralized prediction markets fit within existing legal frameworks.