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Argentina has ordered a nationwide block of crypto-based prediction platform Polymarket, following a Buenos Aires court ruling that classified the service as an unlicensed online gambling operation. The decision, issued by Judge Susana Parada on March 16, 2026, makes Argentina the second Latin American country to ban the platform after Colombia.
How the Ban Came About
The case was driven by two industry bodies: the Buenos Aires City Lottery (LOTBA) and the Argentine Chamber of Casinos, Bingos, and Annexes (CASCBA). Together they pushed the complaint through the Specialized Prosecutor’s Office for Gambling (FEJA), with technical assistance provided by the Judicial Investigations Corps (CIJ).
Prosecutors described Polymarket as a “hidden online betting system” — a platform where users stake funds on binary yes-or-no outcomes tied to elections, inflation data, wars, and other real-world events. Argentina operates a strict licensing regime for gambling products, and the court found Polymarket was operating entirely outside it.
The absence of know-your-customer checks was a central factor in the ruling. Authorities noted that users could open accounts in minutes without any identity verification, creating conditions where minors could access speculative betting products with no safeguards in place. Judge Parada said these features elevated risks for users and families, and that a nationwide restriction was necessary to protect the public.
Inflation Data Incident Accelerated Action
Regulatory momentum sharpened in February 2026 when Polymarket trading patterns on Argentina’s monthly inflation figure shifted approximately 15 minutes before the official INDEC release, which confirmed a 2.9% rate. Authorities interpreted the activity as evidence that the platform functioned less like a neutral forecasting tool and more like an operation with access to, or influence over, sensitive economic data. The incident added political pressure to act quickly.
Enforcement Mechanics
The court directed ENACOM, Argentina’s national telecommunications regulator, to coordinate with internet service providers and enforce domain-level restrictions across the country. Both Google and Apple received orders to remove Polymarket’s mobile applications from their respective app stores for Argentine users, covering both new downloads and existing accounts.
The enforcement covers the main Polymarket domain and associated mirror sites. ENACOM is working with ISPs to ensure restrictions are applied across mobile networks and home broadband connections.
Latin America Pattern
Colombia’s gambling regulator Coljuegos moved first, blocking Polymarket in 2025 on the grounds that any platform allowing bets on future events — regardless of whether payments use stablecoins like USDC — must comply with local licensing requirements and contribute to the national health fund. Polymarket had not met either condition.
Argentina’s action extends that pattern and reflects a broader Latin American regulatory posture: prediction markets that use cryptocurrency to facilitate wagering are classified as online gambling, not as financial derivatives or information markets. That framing stands in direct contrast to the US approach, where the Commodity Futures Trading Commission has treated platforms like Polymarket and Kalshi as regulated derivatives markets rather than state-licensed gambling operations.
Polymarket’s Global Regulatory Position
Polymarket has faced escalating restrictions across multiple jurisdictions over the past year. In the US, a Nevada court issued a restraining order against the platform, and state regulators in Oregon filed suit against Kalshi in February 2026 for operating an illegal online gambling enterprise — a line of argument that mirrors Argentina’s reasoning. Several US states are actively reviewing whether event-based contracts require gambling licences rather than CFTC oversight.
Beyond the Americas, Australia and New Zealand have both moved against prediction markets in early 2026. New Zealand declared prediction markets illegal, and the Australian Communications and Media Authority classified the category as gambling. In Europe, the Netherlands has imposed penalties on unlicensed operations, and regulators in multiple jurisdictions continue to examine how these platforms should be treated under existing gambling or financial law.
The Argentina ban also drew attention to Polymarket’s decision last year to host a market on the probability of nuclear weapon use — a product that drew public criticism and provided regulators in several countries with additional grounds to pursue restrictions.
Outlook
Argentina’s enforcement model — combining ISP-level blocking, app store removal, and gambling law arguments — is likely to serve as a template for other Latin American jurisdictions evaluating their position. Brazil, which launched its regulated betting market in 2025 and is currently advancing B2B supplier licensing, has not yet taken public action against prediction markets, but the question of how crypto-enabled event contracts fit within its framework remains open. As the sector’s retail footprint grows, particularly in markets with established gambling oversight regimes, the pressure on platforms to either obtain local licences or exit becomes progressively harder to avoid.
Source: Buenos Aires Justice System / ENACOM
