France's regulatory authority for licensed gambling and betting games has ordered internet service providers (ISPs) to block access to Polymarket, a decentralized prediction market platform.This move follows a previous geoblock implemented in November to restrict financial transactions from French residents on Polymarket.The regulation aims to curb unauthorized betting activities, with individuals advertising such sites facing fines of up to 100,000 euros ($114,000).The decision aligns with similar actions by Spain, which blocked Polymarket and Kalshi in May while investigating gambling licenses.

The French government's intervention underscores growing regulatory scrutiny of decentralized financial platforms that operate outside traditional licensing frameworks.

Critics argue that such measures could stifle innovation in the fintech sector, while proponents emphasize the need to protect consumers from unregulated gambling risks.The move also highlights the challenges governments face in regulating digital markets that transcend national borders.

This development is part of a broader trend of increased oversight in the cryptocurrency and prediction market spaces, as regulators seek to balance innovation with consumer protection and legal compliance.