French regulator examines Polymarket following crypto bets on #Trump

France’s gambling regulator is reviewing #Polymarket operations to determine its compliance with local regulations following a spike in user demand related to the U.S. presidential election.

The scrutiny follows significant bets placed by a pseudonymous trader, identified by Polymarket as a French national, who wagered heavily on #DonaldTrump winning the election. The trader, known by the username Fredi9999, is anticipated to earn approximately $48M in profits from the bets spread across four known accounts.

Polymarket is a decentralized prediction market platform that enables users to speculate on the outcome of real-world events using cryptocurrency.

👉 bloomberg.com/news/articles/2024-11-07/crypto-bets-on-trump-polymarket-examined-by-french-regulator-anj