Argentina Officially Bans Polymarket as Global Restrictions Continue Expanding

Key Highlights

• Argentina has officially ordered a nationwide block of Polymarket
• Authorities classified the platform as an unlicensed online gambling operation
• Internet providers were instructed to block access to the website across the country
• Google and Apple were also ordered to remove the app for Argentine users
• The decision followed controversy surrounding suspicious inflation-related betting activity
• Polymarket is now restricted or blocked in more than 35 countries worldwide
• Governments are increasingly targeting prediction markets over gambling and election concerns
• The United States remains one of the few major markets pursuing regulated access instead of outright bans

Argentina has officially joined the growing list of countries restricting access to Polymarket after a Buenos Aires court ordered a nationwide block on the decentralized prediction market platform. The ruling marks one of the most aggressive regulatory actions yet taken against crypto-based prediction markets in Latin America.

The decision was issued on March 16, 2026, by Judge Susana Parada, who ruled that Polymarket was operating as an unlicensed online gambling service under Argentina’s criminal code. Authorities instructed the National Communications Entity (ENACOM) to coordinate ISP-level blocks across the country, while both Google and Apple were ordered to remove or restrict the application for Argentine users.

The legal action was reportedly initiated by the Buenos Aires City Lottery (LOTBA) alongside casino industry organizations, which argued that Polymarket lacked the regulatory authorization and consumer protections required under Argentine gambling laws. Regulators specifically pointed to the absence of local licensing, age verification systems, and compliance oversight mechanisms.

One event appears to have accelerated the crackdown significantly. Shortly before Argentina’s national statistics agency released official February inflation data, Polymarket reportedly experienced sudden and highly directional betting activity tied to the inflation outcome. Authorities raised concerns that some traders may have had access to non-public economic data before the official release, intensifying fears surrounding insider information and market manipulation.

The ban also arrives during a politically sensitive period for Argentina. President Javier Milei continues facing scrutiny tied to the broader “$LIBRA” crypto controversy, while regulators simultaneously increase pressure on speculative crypto-related platforms operating outside traditional financial oversight frameworks.

Argentina’s move is part of a much larger global trend. According to reports, Polymarket is now restricted or blocked in more than 35 countries worldwide as regulators increasingly classify prediction markets as forms of unlicensed gambling rather than legitimate financial products.

Several European countries have already taken similar action. France reportedly moved to restrict access after a trader allegedly generated enormous profits betting on U.S. election outcomes, while the Netherlands imposed significant financial penalties unless the platform geoblocked Dutch users. Portugal and Hungary also introduced restrictions tied to election-related betting concerns.

Elsewhere, countries including Australia, Colombia, Singapore, Thailand, and Taiwan have implemented various forms of access restrictions, partial limitations, or operational bans. Regulators across many jurisdictions increasingly argue that decentralized prediction markets create legal and political risks involving gambling laws, election integrity, insider information, and cross-border financial oversight.

At the same time, some governments appear more concerned about the combination of crypto payments and weak identity verification systems than the prediction markets themselves. Community discussions surrounding the ban frequently referenced concerns over offshore-style betting systems operating with limited KYC enforcement and global crypto-based settlement infrastructure.

The United States remains one of the few major exceptions to the broader prohibition trend. While Polymarket’s primary platform is still geoblocked for U.S. users, the company has pursued a separate regulated pathway through its acquisition of a CFTC-regulated entity. That strategy reflects a major contrast between U.S. regulators — who appear increasingly interested in regulated prediction markets — and many foreign governments moving toward outright restrictions.

Analysts believe the broader debate centers on whether prediction markets should be treated as financial forecasting tools, information markets, or simply another form of online gambling. Supporters argue these markets can improve price discovery and collective forecasting accuracy, while critics believe they create incentives for manipulation, political speculation, and unregulated betting activity.

For now, the regulatory direction outside the United States appears increasingly restrictive. Argentina’s nationwide block adds another major jurisdiction to the growing list of countries concluding that crypto-powered prediction markets fall too far outside existing gambling and financial laws to remain freely accessible.