France cracks down on illegal prediction markets like Kalshi and Polymarket
France's gambling regulator has raised concerns over the growing use of prediction market platforms in the country. The Autorité Nationale des Jeux (ANJ) warned that these sites operate illegally and pose serious risks to consumers, including addiction and financial harm on Yahoo Finance.
The ANJ identified Kalshi and Polymarket as the leading platforms in the prediction market sector. These websites handle billions of euros in trades and have gained popularity among French users. However, French law does not recognise them as legal, classifying them instead as illegal gambling on Yahoo Finance.
The regulator criticised the platforms for misleading users by describing their activities as 'investments'. According to the ANJ, this language creates a false sense of security, making users believe they face no financial risk. The lack of proper player protection measures on these sites further increases the danger of addictive behaviour.
While the ANJ highlighted the potential for consumer harm, no official data exists on how many French users have engaged with these unregulated platforms in the past year.
The warning from the ANJ underscores the legal and financial risks tied to prediction markets in France. Without regulation, users remain exposed to addiction and financial losses, with no safeguards in place. The regulator has made it clear that these platforms operate outside the law on Yahoo Finance.
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