France to Ban Polymarket After $3.5 Billion Bet on U.S. Elections

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France’s gambling watchdog, the Autorité Nationale des Jeux (ANJ), is planning to ban Polymarket, a crypto-based betting platform, for operating illegally in the country. The decision follows Polymarket’s rise in popularity after a French user made large bets on the U.S. presidential election. Over $3.5 billion was wagered on the U.S. election alone. While the ANJ has not officially confirmed the ban, sources say the platform will soon be blocked in France. This move highlights growing concerns around crypto betting platforms and their compliance with national laws.