Polymarket, a decentralized prediction platform, has suspended access to French users following an investigation by France's online gaming regulator ANJ. The platform recently gained attention after a French trader, known as the "Trump Whale," won approximately $85 million betting on Trump's political outcomes.

The platform, which handled around $3.2 billion in election-related wagers, operates as a decentralized financial exchange where users can trade on future events using cryptocurrency. Users can bet on "yes" or "no" outcomes through event contracts, but the platform lacks both gambling and financial product licenses from French regulators ANJ and AMF.

French users attempting to access Polymarket now receive a message stating trading is unavailable in their jurisdiction, similar to restrictions already in place for US residents. This follows a 2022 incident where Polymarket was fined $1.4 million by the CFTC for operating an illegal unregistered facility.

Recent developments include an FBI raid on CEO Shayne Coplan's Manhattan apartment, where agents seized electronic devices. While Polymarket claims this was "political retribution" for their election predictions, the investigation's exact nature remains unclear. Coplan has not been arrested or charged with any crime.

The platform's effectiveness in predicting US elections may be compromised by these geographical restrictions, as they limit participation from registered US voters who could provide valuable predictive data.

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