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Argentina has decided to block the cryptocurrency-based prediction platform, Polymarket, nationwide, as determined by a court ruling on March 16, 2026. Judge Susana Parada of Buenos Aires commanded the National Communications Entity (ENACOM) to enforce this block through all internet providers in Argentina. In addition, the court ordered Google and Apple to remove the Polymarket app from their digital stores for Argentine users.
Why Did Local Complaints Lead to This Move?
This regulatory clampdown followed a complaint from LOTBA, the regulatory authority for gaming and lotteries in Buenos Aires. Supporting this move was the Argentine Chamber of Casinos, Bingos, and Annexes (CASCBA), bringing the complaint to the Specialized Prosecutor’s Office for Gambling (FEJA), with technical input from the Judicial Investigations Corps.
Authorities insisted that Polymarket was unlicensed and non-compliant, unlawfully running prediction markets online, which contravened established gambling laws. Investigations revealed that it was an unregulated digital arena accessible to minors due to ineffective user verification processes.
What Security Concerns Led to the Ban?
A significant aspect of the court’s decision focused on Polymarket’s registration process, which lacked crucial age and identity checks. Users could engage with the platform using cryptocurrencies and credit cards with minimal screening, raising alarms over potential risks, particularly for younger users.
Judge Parada highlighted these issues, indicating that the absence of verification raised serious user safety concerns. The ban will affect all versions of Polymarket available digitally within the nation.
Judge Parada pointed to the lack of age and identity verification as factors that “significantly increase the risks for users.”
Despite this directive, access to Polymarket was still reported in Argentina by March 16 afternoon, but enforcement of the order is anticipated shortly.
Polymarket, famous for offering predictions on global events such as elections and economic trends, has gained a broad following since it started.
- Argentina and Colombia now both enforce full bans against Polymarket, potentially guiding future regulatory actions in Latin America.
- The ban’s timing coincided with Polymarket providing predictions on Argentina’s forthcoming inflation statistics, prompting further scrutiny.
In contrast, U.S. regulators are considering regulatory frameworks for crypto prediction platforms rather than outright bans. Polymarket’s influence grew during the 2024 U.S. presidential election, showing higher odds for Donald Trump compared to conventional pollsters, boosting its global status.