Local media reports that the National Communications Entity has directed Apple and Google to remove the app from their app stores.
This came after a legal case by the Buenos Aires City Lottery and the Argentine Chamber of Casinos against Polymarket, which claims it is operating as an illegal gambling platform.
The case alleged that Polymarket allows users to place bets using cryptocurrencies and cards without a licence in the country while lacking identity checks and age restrictions, which made it a threat to minors and presented financial risks.
Judge Susana Parada described the platform as an unregulated betting operation, rather than a true prediction market.
The court ruled that the structure of the platform had circumvented gambling regulations and violated laws protecting consumers.
Regulators cited the absence of oversight measures typically required of regulated platforms, including the need to comply with Know Your Customer requirements and prevent illegal money services.
The case gained urgency following a controversy tied to Argentina’s February inflation data release.
According to regulators, activity on Polymarket shifted sharply just minutes before official figures were published by the National Institute of Statistics and Census.
The platform adjusted to the correct 2.9% inflation rate roughly 15 minutes ahead of the announcement, prompting scrutiny from authorities.
Officials interpreted the timing as evidence that sensitive government data may have been accessed or disseminated prematurely.
Rather than reflecting predictive accuracy, regulators viewed the activity as a potential case of insider trading facilitated through a decentralised system.
The incident intensified concerns about the platform’s capacity to enable data arbitrage and undermine confidence in official economic reporting.
More countries act against PMs
Argentina’s action places it among more than 30 jurisdictions that have restricted Polymarket.
The change indicates a larger issue that governments have to face in decentralised financial platforms that relate to gambling regulations.
There is more attention being paid to whether these financial platforms align with the current legal concept of wagering, especially when there is a consideration of real-time speculation and money involved.
The decision also aligns Argentina with regional developments, with Colombia previously imposing similar restrictions.
Last October, Colombia’s national gambling regulator, Coljuegos, banned Polymarket and ordered internet service providers (ISPs) to block the site.
Meanwhile, Brazil is beginning to see more prediction market activity and Kalshi has announced plans to launch an offering in the country.
Dingnews.com 18/03/2026