France’s decision to block access to prediction market platform Polymarket has taken on new significance after reports connected one of the platform’s highest-profile accounts to British political figure George Cottrell, adding another layer to the ongoing debate over regulation, transparency and digital prediction markets.
The development comes shortly after France’s National Gambling Authority (ANJ) ordered internet service providers to restrict access to Polymarket, arguing that the platform promotes gambling services that are not authorised under French law. The regulator has maintained that prediction markets remain illegal in France and warned that such products carry gambling-related risks without the consumer protections required of licensed operators.
According to reports by the Financial Times, an account identified as “GCottrell93” received approximately $8.8m in cryptocurrency from unidentified wallets before placing large wagers on Donald Trump winning the 2024 US presidential election. The account reportedly generated around $4.46m in profit before transferring most of the funds to other crypto addresses. George Cottrell, a businessman and political associate of Nigel Farage, has denied personally funding the trades, saying he merely allowed the use of his account.
The revelations have intensified concerns surrounding identity verification and financial transparency on prediction market platforms. French regulators have already cited shortcomings in Polymarket’s customer verification procedures, arguing that inadequate Know Your Customer (KYC) safeguards increase the risk of market manipulation and weaken consumer protection. The ANJ also referenced suspicious weather-related markets that are being investigated by French cybercrime authorities over concerns that manipulated data may have influenced betting outcomes.
French authorities first raised concerns about Polymarket in late 2024. Although the company introduced geoblocking measures to prevent financial transactions from France, regulators concluded that users continued to circumvent those restrictions. The ANJ said the platform attracted more than 205,000 unique French visitors and nearly 579,000 visits during June, making its homepage a significant promotional channel for an unauthorised gambling service.
Polymarket has rejected the French regulator’s position, stating that it has not permitted French users to trade on the platform since late 2024 and that visitors from France could only access market information. The company described the website as an informational resource and confirmed it intends to challenge the blocking order through the French legal system.
The dispute reflects growing international pressure on prediction market operators. Regulators across several jurisdictions have stepped up oversight of platforms such as Polymarket and Kalshi, questioning whether many event contracts should be treated as financial instruments or gambling products. Authorities have also expressed concern over markets tied to elections, geopolitical events and other sensitive subjects, arguing that some contracts may present risks to market integrity and the public interest.