Argentina’s Nationwide Ban on Polymarket: A Growing Global Trend
In a significant move, Argentinian authorities have implemented a nationwide blockade on Polymarket, a prominent player in the global crypto prediction market. This decision has sent ripples across the industry and sparked discussions about the future of crypto-based prediction platforms.
Is Argentina Imposing an Authoritarian Crypto Ban?
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Recent reports from Buenos Aires reveal that a local court has mandated a national restriction on Polymarket. This crackdown will be executed through the Ente Nacional de Comunicaciones (ENACOM) and local internet service providers (ISPs). Additionally, the app will be pulled from Apple’s App Store and Google Play, affecting even current users, according to local sources.
The Buenos Aires Lottery Regulators, including Lotería de la Ciudad de Buenos Aires and the Cámara Argentina de Casinos y Bingos, argue that Polymarket operates as an illegal online gambling platform rather than a neutral prediction market. This led to legal action initiated by the City’s Special Prosecutor’s Office for Gambling (FEJA) under the supervision of Judge Susana Parada.
While the blocking order has been issued, its execution depends on ENACOM’s notification to ISPs, which will likely result in a phased implementation.
Polymarket’s Controversial Role in Argentina’s Inflation Market
The decision follows a scandal from February, where suspicious trading activities were observed in the inflation market. Odds shifted merely minutes before INDEC released official CPI data, suggesting potential insider trading by individuals with political connections.
Local media have criticized Polymarket, labeling it a “degen casino.” These platforms allow users to place bets linked to the Argentine peso on various macroeconomic data, elections, and political outcomes without proper licensing or age verification. According to reports, Polymarket is less of a prediction market and more of a gambling venue, gaining traction during the pandemic and the Trump-Harris election campaign.
A Broader Regulatory Movement
Although Argentina’s actions might seem groundbreaking, Colombia was the first Latin American country to ban Polymarket. In September 2025, Colombian regulators, Coljuegos, declared the platform illegal, prompting ISPs to restrict access.
Globally, prediction markets have become a favored tool for crypto traders to assess political risks, inflation trends, and macroeconomic events in real-time, often outpacing official data releases. This isn’t Polymarket’s first brush with regulators; similar measures have been observed in France, Taiwan, Singapore, and the United States, focusing on unregistered derivatives and gambling concerns.
Argentina’s decisive action highlights a growing regulatory trend treating crypto prediction markets primarily as gambling platforms. This may lead to fragmented liquidity and drive these activities to more permissive jurisdictions or less regulated environments.
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