Regulatory authorities launch review of Polymarket

BlockBeats News: On November 7th, the French National Gaming Authority (ANJ) is reviewing the operation of Polymarket, a cryptocurrency based prediction market platform, to determine if it complies with local rules, following a surge in user demand during the US presidential election. An ANJ spokesperson said on Thursday, "We are aware of this website and are currently checking its operations and compliance with French gambling regulations." According to the encrypted news media The Big Whale, ANJ expects to ban French users from accessing Polymarket. Previously, Polymarket confirmed that an anonymous trader was a Frenchman. He made a large bet on the platform and supported Trump to win the election. Calculations show that the trader with username Fredi9999 is expected to earn approximately $48 million in betting profits across four accounts. According to the regulations on the government website, any new gambling market must obtain prior authorization from ANJ. (Golden Ten)