Quick overview

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The ruling stems from a complaint filed by the Buenos Aires City Lottery (LOTBA), which alleged that the platform was operating as a disguised online betting system and allowed minors to participate.

A Buenos Aires court ordered the nationwide blocking of access to Polymarket, the world’s largest prediction market platform. The decision followed an investigation triggered by a complaint from the Buenos Aires City Lottery (LOTBA), which found that the site was effectively operating as an unauthorized online gambling service. Authorities also instructed Google and Apple to restrict access to the platform’s mobile applications.

The case began after LOTBA — the entity responsible for regulating gambling activities in the city — reported that Polymarket was operating without authorization.

The investigation, which included technical support from the Judicial Investigations Unit (CIJ) of the Buenos Aires City Public Prosecutor’s Office, determined that the platform functioned as a concealed betting system under the label of “prediction markets.”

According to investigators, the site allowed transactions using cryptocurrencies and credit cards, did not require identity or age verification, and enabled users to create accounts within minutes, significantly increasing the risks for users.

Argentina blocks Polymarket and removes apps from Google and Apple

Authorities concluded that these irregularities made it possible for anyone — including children and teenagers — to place bets without oversight. Based on the evidence gathered by prosecutors, the court led by Judge Susana Parada ordered internet providers to block access to the platform and all related domains “throughout the entire territory of the Argentine Republic.”

The order applies nationwide. To implement the measure, Argentina’s communications regulator ENACOM was instructed to coordinate with internet service providers to enforce the block.

The ruling also instructs technology companies Google and Apple to remove and restrict access to Polymarket’s mobile applications on Android and iOS devices across the country. The measure also applies to users already registered in Argentina.

What are prediction markets?

Prediction markets are digital platforms that allow users to wager real money on the outcome of various events — ranging from elections and sporting events to geopolitical developments and other public-interest topics.

In practice, these platforms present themselves as tools for collective forecasting or data-driven analysis. However, their mechanics closely resemble those of traditional betting platforms: money is at stake, outcomes are uncertain, and participants face the possibility of gains or losses.

In a recent controversy, following the capture of Venezuelan leader Nicolás Maduro by U.S. authorities, Polymarket declined to pay out bets placed on a U.S. invasion of Venezuela. The platform argued that the operation to extract the former leader did not meet its criteria for an “invasion.”