Relevant authorities of Argentina found that the Polymarket, which is an online betting platform working with the concept of prediction markets, was operating without the necessary permission in the country. Argentina has imposed a ban on the operation of the platform.
The ban began after the Buenos Aires Municipal Lottery (LOTBA) Judge Susana Parada, the head of the PCyF No. 31 court, issued a judicial filed a complaint about the platform’s operations. An investigation launched into the platform’s activities.
The Director of the LOTBA, Ezequiel Domínguez, has explained:
The initial identification was carried out by our technical teams, which led to a formal investigation and ultimately a judicial decision.
According to Ida Lopez, the president of The Association of State Lotteries of Argentina (ALEA), the platform has not received the appropriate legal authorization to operate in Argentina. This action was facilitated by the Argentine Chamber of Casinos, Bingos and Halls Annexes.
As a result, Polymarket’s associated website and app operations have been restricted throughout Argentina.
With this move, Argentina has become the first country in Latin America to impose a restriction on the operation of a prediction market platform.
