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The crypto prediction pit Polymarket just ghosted its French fam. Regulatory watchdogs in France sniffed out the platform after a wild $80M bet on Trump’s U.S. election dub. Now, the marketplace is in lockdown mode for users in France, with the ANJ (National Gaming Authority) lurking in the shadows, questioning if the whole operation plays nice with French laws.

French Punters Stuck in View-Only Purgatory

Log into Polymarket from France, and you’ll hit a “view-only mode” wall. No trades, no action—just a read-only feed to stare at. The ban doesn’t scream loud, though. Polymarket skipped the press releases and instead slipped a quiet update into the mix. A Polymarket mouthpiece spilled to The Block:

“Users in France can continue to access Polymarket for critical information about the events that matter most to them, but for the time being we’ve hit pause on new trades. We took this step proactively while we continue to engage with stakeholders in the country about our platform and prediction markets more generally.”

Translation? They’re ducking heat while sweet-talking the suits in France to keep the wheels turning.

Théo’s $80M Win Triggers Frenzy

The ANJ isn’t snoozing, though. Their radar pinged hard after Théo—aka “Fredi9999,” a French national and Polymarket whale—cleaned house with an $80M bet on Trump snagging the presidency. Dude backed it up with custom polls he bankrolled himself, leaving skeptics hollering “manipulation.”

But Théo shrugged it off. He told the Wall Street Journal he’s just crunching numbers, not rooting for red or blue. “Apolitical,” he said, keeping it cool while cashing out stacks.

Now ANJ is poking around Polymarket to see if it flouts local gambling rules. So far, no formal finger-pointing, but the timing of the French lockout feels sketchy. Add the U.S. election buzz, and you’ve got regulators across the globe side-eying prediction markets.

For French degens, though, it’s lights out—for now.