Traditional Casinos Team Up to Take Down Polymarket: Argentina Issues National Ban

Polymarket has previously been blocked by courts in France, Romania, and other European countries.

Author: Tim Alper

Translation: Deep潮 TechFlow

Deep潮 Guide: The Argentine Traditional Casino Industry Association and the National Lottery Office jointly sued Polymarket, successfully convincing the Buenos Aires court to issue a nationwide ban — on the grounds of “operating a gambling platform without a license.”

This is not just a regulatory action by one country but a standard operation manual for traditional gambling interest groups to use existing regulatory frameworks to crack down on crypto prediction markets. France, Romania, and others have already taken the lead.

Full Text:

• The Buenos Aires City Court’s ban on Polymarket applies nationwide
• Prosecutors claim Polymarket operates without a gambling license
• Buenos Aires legislative body is discussing a bill to fully ban cryptocurrency gambling

Argentina’s gambling regulatory authority and casinos successfully persuaded the court to issue a nationwide ban on the crypto-driven prediction market platform Polymarket.

The Buenos Aires City Court issued this nationwide ban following two formal complaints from the Buenos Aires Lottery Agency and the Argentine Casino, Bingo, and Related Entities Chamber (CASCBA).

The city lottery agency is a state-owned enterprise responsible for regulating, licensing, and taxing all active gambling operators within Buenos Aires. CASCBA is an industry association representing land-based gambling operators in Argentina, including casinos and bingo halls.

“Internet service providers have been instructed to take necessary measures to enforce the ban,” reported Argentine media Pagina 12.

The ban comes after criticism of Polymarket last week for betting on Argentina’s inflation data — with some suggesting that users may have accessed relevant information before the official data was released.

This is another setback for Polymarket and other crypto prediction markets. They have previously faced resistance from courts and gambling regulators in the U.S. In January, a Massachusetts court banned Polymarket’s competitor Kalshi from operating in the state for “non-compliance” with sports betting rules.

Unlicensed Sports Betting

The legal case from the city lottery agency and CASCBA revolves around the same core claim: Polymarket allows Buenos Aires residents to bet on an unlicensed platform.

The complaint was supported by prosecutors, who assigned a team specializing in gambling cases to handle the matter.

Prosecutors informed the court that the platform “operates as a clandestine online betting system,” and does not require users to complete identity or age verification.

“This means anyone, including children and teenagers, can access the platform and start betting without any regulatory mechanisms,” prosecutors told the court.

Crypto Gambling Controversy

Prosecutors also accused Polymarket of allowing Argentine users to bet using cryptocurrencies and credit cards.

In Buenos Aires, gambling companies can offer crypto and credit card betting services but must obtain a special license from the city lottery authority.

However, the legislative body has expressed strong opposition to companies allowing customers to gamble with credit or cryptocurrencies.

Members of the Argentine Congress are currently discussing a private member’s bill seeking to completely ban online casinos and other gambling sites from using cryptocurrencies and credit cards.

Polymarket has previously been blocked by courts in France, Romania, and other European countries.

The platform still offers odds on several Argentina-related markets, including whether the country will adopt the U.S. dollar before the June 30 deadline. It also provides odds on whether President Javier Milei will complete his full term before the 2027 election.

Polymarket did not immediately respond to requests for comment.