{"id":3784,"date":"2024-11-25T18:52:58","date_gmt":"2024-11-25T19:52:58","guid":{"rendered":"http:\/\/restaurace-pohoda.eu\/?p=3784"},"modified":"2024-11-28T13:35:31","modified_gmt":"2024-11-28T13:35:31","slug":"polymarket-blocked-in-france-after-85m-trump-whale-win","status":"publish","type":"post","link":"http:\/\/restaurace-pohoda.eu\/index.php\/2024\/11\/25\/polymarket-blocked-in-france-after-85m-trump-whale-win\/","title":{"rendered":"Polymarket Blocked in France After $85M \u2018Trump Whale\u2019 Win"},"content":{"rendered":"

Prediction platform Polymarket has blocked access to French users as a result of an investigation by ANJ, France\u2019s online gaming regulator.<\/p>\n

\"Polymarket,
Shayne Coplan, CEO and founder of Polymarket, was the target of an FBI raid a week after the US presidential election. The platform is unregulated and purports not to take bets from US \u2013 and now French \u2013 citizens. (Image: NewsX)<\/figcaption><\/figure>\n

The regulator began looking into the platform, and whether it complied with French gambling laws, in the run-up to the US Presidential elections. That\u2019s after one French Polymarket trader, dubbed the \u201cTrump Whale\u201d<\/a> by the media, wagered millions on the former president\u2019s political comeback.<\/p>\n

The trader is believed to have won around $85 million betting on Trump, which didn\u2019t go unnoticed by the ANJ. In all, Polymarket users wagered around $3.2 billion on the outcome of the election.<\/strong><\/p>\n

Polymarket is a decentralized financial exchange and prediction platform that allows users to trade on the outcome of future events using crypto. The site uses event contracts, a type of derivative formatted for putting money on \u201cyes\u201d or \u201cno\u201d outcomes before expiring.<\/p>\n

The company doesn\u2019t have a gambling license from the ANJ, nor is it regulated by the Autorit\u00e9 des March\u00e9s Financiers (AMF), the French regulator for derivatives and other financial products.<\/p>\n

Unregulated Platform<\/strong><\/h2>\n

From Friday, visitors to the platform from inside France, including its most successful trader, the Trump Whale, would have been greeted with the following pop-up message:<\/p>\n

\u201cYou appear to be located in the United States, France, or another related jurisdiction. Trading is not available to U.S. persons, persons located in the United States, France, or persons located in restricted jurisdictions.\u201d<\/p>\n

\n

In 2022, Delaware-registered and New York-based Poly\u00admar\u00adket was ordered to block ac\u00adcess to US residents and to pay a $1.4 million settlement to the Commodity Futures Trading Commission (CFTC) for \u201coperating an illegal unregistered or non-designated facility \u2026 for event markets.\u201d<\/p>\n<\/div>\n

It\u2019s unclear the extent to which US \u2013 and now French \u2013 residents can access the platform using virtual private networks (VPNs), if at all.<\/p>\n

Polymarket\u2019s claim to be able to predict US elections more effectively than traditional polls would seem to be predicated on having a strong sample size of registered US voters.<\/p>\n

FBI Raid<\/strong><\/h2>\n

A week after the election, the company\u2019s founder and CEO Shayne Coplan\u2019s Manhattan apartment was raided by the FBI<\/a>. Agents seized Coplan\u2019s phone and electronic devices, according to multiple reports.<\/p>\n

\n

In the wake of the raid, a Polymarket spokesperson claimed the incident was an act of \u201cpolitical retribution\u201d for predicting the election results.<\/p>\n<\/div>\n

This is far-fetched. It\u2019s likely the FBI is looking into the extent to which US citizens were able to access the platform, although the exact nature of the investigation remains unclear.<\/p>\n

Coplan wasn\u2019t arrested, nor has he been accused of any crime.<\/p>\n

The post Polymarket Blocked in France After $85M \u2018Trump Whale\u2019 Win<\/a> appeared first on Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Prediction platform Polymarket has blocked access to French users as a result of an investigation by ANJ, France\u2019s online gaming regulator. Shayne Coplan, CEO and founder of Polymarket, was the target of an FBI raid a week after the US presidential election. The platform is unregulated and purports not to take bets from US \u2013…<\/p>\n","protected":false},"author":1,"featured_media":3786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[],"_links":{"self":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/3784"}],"collection":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/comments?post=3784"}],"version-history":[{"count":2,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/3784\/revisions"}],"predecessor-version":[{"id":3787,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/3784\/revisions\/3787"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/media\/3786"}],"wp:attachment":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/media?parent=3784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/categories?post=3784"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/tags?post=3784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}