Argentina has decided to fully block the cryptocurrency-based prediction platform Polymarket, following a court ruling on March 16, 2026. Buenos Aires judge Susana Parada ordered the national communications entity (ENACOM) to implement this ban through all internet service providers. Additionally, the court has requested Google and Apple to remove the Polymarket app from their digital stores for Argentine users.
Why did local complaints lead to this action?
This regulatory measure stems from a complaint by the Buenos Aires gambling and lottery regulatory agency LOTBA, supported by the Argentine Casino, Bingo, and Affiliates Chamber (CASCBA). They submitted this complaint to the specialized gambling prosecutor's office (FEJA) and received technical support from the judicial investigation team.
Authorities emphasized that Polymarket does not hold the necessary licenses and is operating illegally in the online prediction market, violating established gambling laws. Investigations revealed that the platform is an unregulated digital space, easily accessible to minors due to weak user verification processes.
What are the security risks leading to the ban?
A key aspect of the court ruling focused on Polymarket's registration process, which lacks essential age and identity checks. Users can easily access the platform using cryptocurrencies and credit cards with minimal screening, raising concerns about potential risks, especially for younger users.
Judge Parada pointed out that these issues indicate that the lack of verification measures severely impacts user safety. The ban will affect all available digital versions of Polymarket in the country.
Judge Parada mentioned that the absence of age and identity verification is a "significant factor increasing user risk."
Despite this order, as of the afternoon of March 16, reports indicated that Polymarket was still accessible in Argentina, but the enforcement of this order is expected to come soon.
Polymarket has gained widespread attention for providing predictions on global events such as elections and economic trends, accumulating a large user base since its launch. In contrast, U.S. regulators are considering establishing a regulatory framework for cryptocurrency prediction platforms rather than implementing outright bans. During the 2024 U.S. presidential election, Polymarket's influence significantly increased, showing higher odds for Trump compared to traditional polling agencies, enhancing its global standing.