A Buenos Aires court has issued a nationwide order blocking access to Polymarket, one of the world’s largest prediction market platforms. The ruling also mandates that Google and Apple remove the platform’s applications from their stores across Argentina. The decision marks the first time a Latin American country has taken such measures against a crypto-based prediction market, highlighting increasing regional regulatory oversight.

The case began when the Buenos Aires City Lottery (LOTBA) identified Polymarket operating without proper authorization. Prosecutor Juan Rozas of the Specialized Gambling Prosecutor’s Office (FEJA) launched an investigation, which concluded that Polymarket functioned as a “covert online betting system.” Judge Susana Parada of the PCyF 31 Court confirmed the ruling after the investigation, which included technical support from the Judicial Investigations Corps (CIJ).

Concerns Over Accessibility and User Safety

Authorities found that Polymarket allowed rapid account creation with no identity or age verification, enabling minors to access the platform. Transactions could be conducted via cryptocurrencies and credit cards, heightening the risk for users. “This meant that anyone – including children and adolescents – could access the platform and begin betting without any kind of control,” prosecutors said in their statement.

The investigation also uncovered that Polymarket had no gambling licences in any jurisdiction recognized by the Association of State Lotteries of Argentina (ALEA). Separate complaints from the Argentine Chamber of Casinos, Bingo Halls, and Related Businesses (CASCBA) reinforced the findings, emphasizing the platform’s failure to comply with regulatory requirements and protective measures for users.

The court’s intervention followed public controversy over a surge in bets linked to Argentina’s February inflation figures. Trading on Polymarket’s platform reached nearly US$91,000 shortly before the official data release by INDEC. Analysts noted that market prices sharply adjusted toward the final figure just minutes before publication, raising suspicions of early access or insider knowledge.

Cross-Border Regulatory Actions

Argentina’s move aligns with broader international scrutiny of prediction markets. Polymarket has previously been blocked in France, Italy, Germany, and other European countries for operating without proper licensing. In Portugal, authorities prohibited the platform from offering betting on political events, while Dutch regulators also sanctioned it for unlicensed operations. Neighboring Brazil is monitoring similar platforms after Kalshi launched its services there, marking its first expansion outside the United States.

As part of the court’s directive, Google and Apple must remove Polymarket from the Android and iOS stores, including restricting access for users who had already registered in Argentina. Internet service providers will also be instructed by the national telecom regulator, ENACOM, to block access to the platform nationwide.

Regulators cited Polymarket’s lack of compliance with licensing, absence of identity verification, and rapid account creation as key reasons for the intervention. Polymarket has yet to issue a public statement in response to the ruling.

The decision sets a precedent in Latin America for regulating prediction markets, particularly those using cryptocurrencies. Authorities emphasize that unregulated platforms pose financial, ethical, and social risks, including gambling by minors and potential exploitation of insider information. According to Ministerio Público Fiscal de la Ciudad de Buenos Aires, the coordinated efforts of LOTBA, FEJA, ALEA, and CASCBA demonstrate growing governmental vigilance over emerging online betting systems.