Argentina Completely Blocks Polymarket! Accused of Operating Without KYC, Government Suspected of "Inflation Data" Insider Trading

Argentine judge in Buenos Aires orders nationwide ban on the crypto prediction platform Polymarket on March 16, 2026, after the platform “predicted” the correct outcome 15 minutes before official inflation data was released, raising insider trading concerns. Additionally, the platform lacks identity verification mechanisms and was ultimately deemed an unauthorized illegal gambling service by the judiciary.
(Background: Combating insider trading! Polymarket teams up with Peter Thiel’s Palantir to develop AI monitoring tools to pave the way into the U.S.)
(Additional context: In-depth analysis of on-chain prediction market “Polymarket”: how it becomes a global trend indicator, and the technical & regulatory challenges it faces.)

Table of Contents

Toggle

• The trigger was “inflation data”
• Two main accusations: no identity verification, accepting cryptocurrencies
• Call for network shutdown, Google and Apple to remove the app

Judge Susana Parada of Buenos Aires officially signed the order on March 16, 2026, to fully block the crypto prediction platform Polymarket, making Argentina the second Latin American country after Colombia to legally ban the platform.

The ban was initiated by complaints from the Buenos Aires Lottery Bureau (LOTBA) and the Argentine Casino and Bingo Industry Association (CASCBA), investigated by the Gambling Specialized Prosecutor’s Office (FEJA), led by Prosecutor Juan Rozas, with technical support from the Judicial Investigation Team (CIJ), culminating in the court’s ruling.

The trigger was “inflation data”

The event that triggered this ban was a market anomaly that drew high alert from Argentine authorities.

Polymarket hosted a prediction market for Argentina’s February inflation data. However, 15 minutes before the National Institute of Statistics and Census (INDEC) released official figures, some accounts with very low trading volume suddenly placed large bets, all of which turned out to be correct after verification.

This phenomenon led Argentine regulators to suspect insider trading—possibly insiders within the government obtaining data early. In simple terms, there may be a mole inside the Argentine government.

Two main accusations: no identity verification, accepting cryptocurrencies

Besides the inflation data incident, LOTBA and CASCBA also accused Polymarket of:

• No identity or age verification: Users can register within minutes, allowing minors to participate, violating basic Argentine gambling regulations.
• Unlicensed operation: Polymarket provides services in Argentina without any gambling license, under the guise of a “prediction market.”
• Accepting cryptocurrencies and credit cards: Multiple payment methods make it difficult to trace funds, increasing money laundering risks.

Call for network shutdown, Google and Apple to remove the app

According to the court order, the National Communications Agency (ENACOM) has issued instructions for all internet service providers (ISPs) in Argentina to technically block access to Polymarket’s website. The court also requested Google and Apple to remove the Polymarket app from their app stores in Argentina.

However, as of 1:05 PM on the day of the ruling, the platform was still accessible within Argentina, indicating the ban enforcement was not yet fully implemented. Polymarket has not publicly responded to the matter.