Argentinean authorities issue blocking order against Polymarket

Regulation

Argentine gambling regulators and casinos have succeeded in convincing a court to issue a nationwide ban on the crypto-powered betting site Polymarket.

The Buenos Aires City Court issued a nationwide ban on the platform following two official complaints from the Buenos Aires City Lottery and the Argentine Chamber of Casino Halls, Bingo Halls and Annexes, also known as CASCBA. 

The lottery, a state-owned firm, regulates, grants permits to, and taxes all gambling operators active in Buenos Aires. CASCBA, meanwhile, is an industry group that comprises Argentinian land-based gaming operators, including casinos and bingo halls.

“Internet providers have been instructed to take the necessary steps to enforce the ban,” the Buenos Aires Public Prosecutor’s Office said, per Argentinian media outlet Paginá 12.

The ban comes after critics hit out at Polymarket bets on Argentine inflation data last week, suggesting some customers may have obtained official government data prior to its publication.

It also marks another setback for Polymarket and other crypto-powered prediction markets, which have already faced pushback from courts and gambling regulators in the United States. In January, a court in Massachusetts banned Polymarket rival Kalshi from operating in the Bay State for “failing to play by” its sports betting rules.

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