Buenos Aires Court Blocks Polymarket in Argentina for “Concealed Betting”

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A Buenos Aires court has ordered internet service providers in Argentina to block access to the prediction market platform Polymarket as regulators around the world intensify scrutiny of prediction markets.

Polymarket allows users to stake funds on the outcomes of real-world events, raising regulatory questions around whether this should be considered financial trading or gambling. Polymarket has also recently encountered regulatory issues in other global jurisdictions, such as the Netherlands.

The order was issued by Judge Susana Parada following an investigation led by prosecutor Juan Rozas and also requires Apple and Google to remove access to the platform’s app in Argentina. The court instructed ENACOM, Argentina’s national communications regulator, to enforce the block via internet service providers.

City prosecutors argued that Polymarket operated as a “concealed online betting system” without complying with gambling regulations. Authorities said the platform failed to implement identity and age-verification controls, meaning “anyone – including children and adolescents – could access the platform and begin betting without any kind of control.”

Investigators also found users could pay with cryptocurrencies and credit cards on the platform, without meeting regulatory standards. Checks with the Asociación de Loterías Estatales de Argentina indicated the company does not hold licences in any jurisdiction in Argentina.

The ruling became public amid controversy over trading activity linked to Argentina’s February inflation data. Around 20 minutes before official figures were released by the INDEC statistics bureau, prediction market odds moved toward the final 2.9% reading in contrast to lower rates given by private analysts, raising questions about access to data ahead of official publication.