France cracks down on illegal Yahoo Finance prediction markets
France's gambling regulator, the Autorité Nationale des Jeux (ANJ), has raised concerns over the growing use of yahoo finance prediction market platforms in the country. The ANJ warned that these sites, such as Kalshi and Polymarket, operate illegally and pose serious risks to consumers, including addiction and financial harm. The ANJ identified these platforms as the leading players in the finance sector, handling billions of euros in trades and gaining popularity among French users. However, French law does not recognize these platforms as legal, classifying them instead as illegal gambling. The regulator criticized the platforms for misleading users by describing their activities as 'investments', creating a false sense of security and increasing the danger of addictive behavior. 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 yahoo finance prediction markets in France, with users remaining exposed to addiction and losses without proper safeguards.
