Polymarket Pushes Back Against French Blockade as UK ‘Posh George’ Bets Draw Attention

Polymarket has signalled it will legally challenge the French gambling regulator’s decision to block access to its website, arguing the move unfairly targets users who visit the platform purely for information rather than trading.

The New York-based firm contends that the majority of its French audience “come to Polymarket solely to learn the probability of future events relevant to their everyday life with no intention to trade.” It frames prediction markets as a tool for sourcing truth. In a statement, the company said it was “disappointed by the French gaming authority’s sudden decision to unilaterally block our website – we intend to challenge this decision through the legal process in France.”

France’s Autorité Nationale des Jeux (ANJ) escalated its enforcement after having already blocked financial transactions to the platform in 2024, which stopped deposits and trades but still allowed browsing. Polymarket insists it complied with that earlier restriction while continuing to operate as an “information source.” The firm is also working with the cybercrime unit of the Paris Public Prosecutor’s Office and wants to “engage constructively” with French authorities.

The regulator’s escalation did not come as a complete surprise: the ANJ had already stated in February 2024 that it considers prediction markets a form of illegal gambling. Polymarket, which runs on the Polygon blockchain using USDC stablecoin, has previously been blocked in Portugal, Romania, Italy, Belgium, the Netherlands and Ukraine, and has faced regulatory pressure in Singapore and South Korea. It was effectively exiled from its US home market between 2022 and 2025 before returning as the Commodity Futures Trading Commission softened its stance under the second Trump administration.

Meanwhile, the regulatory landscape for prediction markets is shifting in other territories. Gibraltar has become the first jurisdiction to create a dedicated regulatory regime for prediction markets, separate from existing gambling laws, even as Polymarket remains banned there. This move signals a potential change in attitude, though platforms like Polymarket continue to attract controversy.

Outside the regulatory arena, Polymarket has been drawn into UK headlines over its connection to financier George Cottrell, nicknamed ‘Posh George.’ Cottrell is a convicted fraudster who has been in the news for his financial support of Reform UK leader Nigel Farage, including reportedly covering Farage’s accommodation and security costs in 2024. Farage’s finances are under scrutiny after he disclosed a £5m crypto gift from billionaire Christopher Harborne, a Tether stakeholder, and separate police investigations are looking into a £500,000 donation to Reform UK from Cottrell’s mother.

In October 2024, over $8m was deposited into a Polymarket account registered as “GCottrell93” from two crypto wallets. The funds were used to bet on a Donald Trump victory in the US presidential election, and the winnings were sent to different wallets. This has sparked questions in the UK media about the origin of Cottrell’s money. While Polymarket is not accused of any wrongdoing in relation to Farage’s affairs, the association is unwelcome publicity.

Despite the regulatory battles and negative headlines, prediction markets continue to attract high valuations. Polymarket is valued at $15bn, while rival Kalshi is worth $22bn and is reportedly targeting a $40bn valuation ahead of a potential IPO. The sector remains controversial but is steadily gaining ground.