Polymarket Banned from Operating in Australia
The Australian Communications and Media Authority (ACMA) has banned the online predictions platform Polymarket from operating in the country after determining that it was illegally targeting Australian users. The enforcement action places Polymarket among four gambling operators recently ordered to be blocked by Australian internet service providers. The other sites on the list are Slot Mafia, Top Aussie Pokies, and Spinanga.
LISTEN TO THIS ARTICLE:The announcement was made on August 13, when the ACMA released its updated register of prohibited online gambling services. The move increases the total number of gambling-related websites blocked in Australia to 1,296. The regulator has used its blocking powers extensively in recent years to combat unlicensed operators providing betting services to Australians without proper authorization.
Polymarket operates as a hybrid platform, combining elements of gambling with cryptocurrency-based transactions. It allows users to place wagers on prediction markets that cover a variety of outcomes, including political events, sports competitions and other future scenarios. The platform's model enables bets to be placed using digital assets, creating a link between speculative markets and blockchain technology.
Australia's ban on Polymarket aligns it with several other jurisdictions that have taken similar action, including France, Switzerland and Belgium. In all of these countries, the platform has been blocked due to its operations falling outside legal gambling frameworks. Regulatory authorities in these markets have raised concerns over unlicensed operators and the potential risks to consumers.
According to an investigation conducted by independent news outlet Crikey, Polymarket paid social media influencers to encourage betting on the outcome of the 2025 Australian federal election. This promotional activity targeted Australian audiences and drew scrutiny from regulators.
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Polymarket Operating Illegally in Australia
The ACMA confirmed that Polymarket, along with the other banned operators, was offering gambling products in breach of the Interactive Gambling Act 2001, which governs online wagering and prohibits unlicensed services from operating in the country.
Under the Telecommunications Act 1997, Australian internet service providers are required to block access to websites when directed to do so by the ACMA. Such directives are typically issued when sites are found to be in violation of national laws, including the Interactive Gambling Act. Blocking access is one of the primary enforcement tools available to the regulator in its efforts to limit the reach of unlicensed gambling services.
Despite the prohibition in Australia, Polymarket is pursuing expansion in regulated markets. The company recently announced the acquisition of QCEX, a US-based financial exchange and clearing house licensed by the Commodity Futures Trading Commission. The deal, valued at $112 million, could allow Polymarket to operate within a legal framework in the US, giving it a pathway toward becoming a regulated platform in the country.
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