Jake Pollard
**French Market Exit as ‘The Polymarket Whale’ Makes Headlines**
Polymarket, a platform for crypto prediction markets, has stopped servicing French users following a directive from France’s gambling authority, the Autorité Nationale des Jeux (ANJ). The decision comes amid speculation about a French national, dubbed ‘The Polymarket Whale’, who reportedly gained $80 million from betting on the US elections.
During the US presidential elections, Polymarket, alongside the US-based Kalshi, gained significant attention when their markets, highly endorsed by Elon Musk on social media, anticipated a win for Donald Trump. Following the elections, Polymarket’s CEO Shayne Coplan was approached by FBI agents who confiscated his phone and other devices.
Notably, Polymarket has backing from prominent figures like Vitalik Buterin, co-founder of Ethereum, and the Founders Fund, a venture capital firm created by Peter Thiel, who also co-founded PayPal and supports Vice-President elect JD Vance.
Sources indicate that ANJ has engaged Adventure One QSS Inc, based in Panama and running Polymarket, to enforce geoblocking measures to restrict French access. Providing unauthorized gambling services in France is a serious offense, punishable by up to three years in prison and fines up to €90,000, with more severe penalties for organized operations.
Since early 2024, ANJ has blocked over 944 websites, driven not by the use of cryptocurrencies in Polymarket’s activities, but rather by its classification under French law as unlicensed gambling.
**New Leadership in ANJ’s Mediation Role**
Isabelle Falque-Pierrotin, President of the ANJ, has appointed Jérôme Gallot as the new gambling mediator. Gallot’s role is to facilitate the peaceful resolution of disputes between players and operators. In 2023, ANJ’s mediation services, primarily concerning sports betting, received 1,523 requests, with 91% related to sports betting and 752 requests being considered inadmissible.
Gallot’s background includes serving at France’s national audit office, the Cour des Comptes, since 1985, and a tenure at the Ministry of the Economy and Finance as Director General for Competition, Consumer Affairs, and Fraud Control. He also possesses experience as an investment expert and has served on Veolia’s board.
