France’s gambling regulator confirmed that it’s currently examining Polymarket and its compliance with French gambling legislation.
Betting news
Polymarket dominates with around $3.3 billion in betting volumes tied to the outcome of the US presidential race.
The revelation comes just a day ahead of the US presidential election on Nov. 5, which has become a focal point for crypto investors.
The US-based prediction market is vying to catch up with industry leader Polymarket.
Competition is heating up among election betting platforms, with crypto-native Polymarket still strongly in the lead.
The US’s first election betting market has added contracts for trading on national elections from Australia to Ecuador, public filings show.
The prediction marketplace has certified more than a dozen political event contracts since prevailing in a court battle in September.
Only 12.7% of Polymarket users have made profits in the prediction market, with most earning less than $100, according to onchain data.