A court in Buenos Aires has mandated a nationwide block on Polymarket, the crypto-based prediction platform, after classifying it as an unlicensed gambling service. The ruling instructs telecom regulator ENACOM to coordinate with internet service providers to restrict access across Argentina. It also requires Apple and Google to remove the Polymarket app from their local stores. The lawsuit was initiated by the Buenos Aires City Lottery (LOTBA).
Court Finds Platform Operates as Betting System
Judges concluded that Polymarket functions as an online betting system rather than a legitimate prediction market. ENACOM is now directing ISPs to implement the block nationwide. Meanwhile, Apple and Google must stop new downloads by users in Argentina. Regulators emphasized the absence of a local gambling license, stressing that the platform bypasses Argentina's gaming oversight framework.
Inflation Data Prediction Draws Scrutiny
Investigators zeroed in on a Polymarket market tied to Argentina's inflation figures. Reports indicate the platform predicted a 2.9% inflation rate before its official release, but the prediction reportedly shifted minutes before the data went public. This anomaly raised questions about data sources and potential insider information. Officials also alleged the platform allowed unauthorized access to betting markets, with insufficient safeguards to prevent underage use.
Platform Recently Removed Nuclear-Weapon Market
Separately, Polymarket recently deleted a market on the probability of a nuclear weapon detonation, following backlash during renewed U.S.-Iran tensions. The move highlights the sensitivity of prediction markets tied to geopolitical flashpoints and the growing compliance risks for such platforms.
Regulatory Crackdown Extends Across Latin America and Beyond
Argentina becomes the second Latin American country to restrict Polymarket. Colombia previously blocked the platform on similar grounds; Coljuegos president Marco Emilio Hincapié stated the site lacked required permits, and authorities opened an investigation. In the United States, platforms like Polymarket and Kalshi face mounting legal pressure. In February 2026, Kalshi was sued in Oregon for alleged illegal gambling. Another lawsuit claims unpaid payouts tied to a $54 million market.