French regulators expect crypto betting site Polymarket to be banned after an anonymous trader bet almost $50 million that Donald Trump would win the presidential election.

Mysterious trader “Trump Whale” who calls himself “Thèo” when talking to him Wall StreetJournalHe bet more than $30 million on the election through four anonymous accounts. They described themselves as wealthy Frenchmen who worked as traders at various banks, according to The Journal.

Thèo referenced a series of neighborhood polls (surveys that asked respondents who they thought their neighbors would vote for) conducted in September; these polls showed that support for Vice President Kamala Harris was lower than when respondents were asked who they would vote for. They also commissioned their own polls using a major unnamed pollster, which showed “mind-boggling results in Trump’s favor,” The Journal reported.

Although Thèo was successful, Polymarket’s excessive advertising in the 2024 election is being scrutinized in France, where online gambling is tightly regulated. In total, users around the world placed bets $3.2 billion It is being debated whether Trump or Harris will win the election.

Big Whale on Wednesday reported According to news based on a source close to the institution, the French Autorité Nationale des Jeux (ANJ) is preparing to ban the site for French users.

An ANJ spokesperson said: “We are aware of this site and are currently reviewing its operation and compliance with French gambling legislation.” he told Bloomberg News on Thursday.

Although Polymarket is based in the USA, only users outside the country are allowed to place bets on the website after a while. 2022 settlement With the Commodity Futures Trading Commission. Other betting markets like Kalshi and robinhoodAfter the court victory in September, they began allowing local election conventions.

But avoiding local bans on accessing Polymarket is simple. All you need to do is use a virtual private network, or VPN, which is relatively easy to access. Not to mention the many online tutorials explaining how to bypass polymarket rules.

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