A court in Buenos Aires has ordered internet service providers across Argentina to block access to Polymarket, ruling that the prediction market platform operates as an illegal gambling system outside the country's legal framework.
Court Rules Polymarket Violates Gambling Laws
Local media reports that the court classified Polymarket's contracts as gambling products rather than neutral prediction tools. Regulators highlighted consumer protection risks, including the platform's use of crypto payments and credit card deposits, coupled with a lack of robust age or identity verification checks that could allow minors to participate. Authorities also flagged suspicious activity: Polymarket reversed its prediction for Argentina's February inflation rate of 2.9% just 15 minutes before the official data release.
Technical Blockade and App Removal Ordered
The court directed telecom regulator ENACOM to coordinate with ISPs to enforce the block. Meanwhile, Google and Apple have been instructed to remove Polymarket's apps from their stores, cutting off the primary access channel for local users. The order followed complaints from entities such as the Buenos Aires City Lottery and the Argentine Chamber of Casinos and Bingos, which argued that Polymarket undermines regulated gambling markets.
Inflation Data Prediction Raises Manipulation Concerns
The timing of Polymarket's prediction reversal—minutes before the official inflation figure—was deemed suspicious. The court concluded that the platform operates as a result-driven betting system, not a neutral information aggregator, blurring the legal line between financial speculation and gambling.
Global Scrutiny Intensifies
Argentina joins Colombia and Romania, which have already banned Polymarket for unauthorized gambling. In the U.S., multiple states are examining whether event-based contracts fall under gambling or derivatives laws. The platform also faces criticism for markets tied to death and violent outcomes, prompting fresh legislative efforts. Additionally, Polymarket's use of Palantir for market surveillance has raised privacy concerns. As of press time, Polymarket has not publicly responded to the Argentine ban. The ruling is expected to fuel further debate over the regulatory classification of prediction markets worldwide.