Argentina has ordered a nationwide block of Polymarket, adding to the growing list of over 30 countries that have banned the prediction market platform.
Authorities flagged consumer protection risks, citing crypto payments, credit card deposits, and a lack of age or identity verification, potentially allowing minors to participate.
Why Argentina Moved Against the Polymarket
According to local media reports, the decision follows after Polymarket appeared to anticipate Argentina’s February inflation rate of 2.9%. The platform reportedly reversed its prediction trend just 15 minutes before the official data release, raising suspicions.
A Buenos Aires court has directed the National Communications Entity (ENACOM), Argentina’s telecommunications and media regulator, to coordinate with internet service providers. Google and Apple have also been ordered to remove Polymarket’s mobile applications from Android and iOS app stores for Argentine users.
“Sources from the Public Prosecutor’s Office told Clarín that the blocking order has already been issued, but—due to how the internet’s structure and Argentine law operate—ENACOM must notify all internet service providers (ISPs) so they can enforce the final block,” local media reported.
The measure stems from complaints initiated by the Buenos Aires City Lottery (LOTBA) and the Argentine Chamber of Casinos and Bingos (CASCBA). This led to a case pursued by the Specialized Prosecutor’s Office for Gambling in the City (FEJA), with technical support from the Judicial Investigations Corps (CIJ).
The investigation concluded that the platform operated as an online betting system disguised as a “prediction market.”
The crackdown in Argentina follows similar actions globally. Colombia’s gambling authority banned Polymarket last year. Meanwhile, last month, Dutch regulators ordered Polymarket to cease operations in the Netherlands.
Prediction markets are also facing heightened scrutiny in the United States. Recently, democratic lawmakers have proposed a bill to prohibit event-based contracts linked to sensitive topics such as war and death.