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Argentina has not decided how to approach prediction markets, and authorities must first establish whether the National Securities Commission (CNV) has jurisdiction, its president Roberto Silva said, according to news agency Nuevas Palabras.
In a report published on 22 October, the agency quoted Silva as saying that, if Argentina pursued a financial-market approach, it would probably exclude minors, sports and certain other events. His remarks were conditional and did not announce an adopted framework.
Nuevas Palabras attributed the remarks to an event organised by the Argentine Institute of Finance Executives in Córdoba. According to the agency, the government is considering whether prediction markets should be treated as gambling or as financial markets potentially falling within CNV supervision. Silva said no course had been decided, referring also to existing judicial measures.
As Informar reported in March, Buenos Aires City’s judiciary ordered Polymarket blocked throughout Argentina following an investigation into its operation without gambling authorisation. The Public Prosecutor’s Office announced the measure on 16 March, identifying Court No. 31, headed by Judge Susana Parada, as responsible for the order.
The investigation began with a complaint from the Buenos Aires City Lottery (LOTBA) and was led by specialist gambling prosecutor Juan Rozas. The prosecutor’s office characterised the platform as an unauthorised online betting operation presented as a prediction market.
Investigators said they had identified a lack of identity and age verification, allowing accounts to be created within minutes. The court also ordered Google and Apple to remove and restrict access to the platform’s applications nationwide, including for users already registered in Argentina.
According to the prosecutor’s office, the Association of State Lotteries of Argentina (ALEA) confirmed during the investigation that Polymarket held no authorisation in any Argentine jurisdiction.
Silva’s reported comments leave open whether some prediction contracts could receive a different regulatory treatment. The Nuevas Palabras report did not identify a timetable for a decision or announce any change to the judicial measures against Polymarket.
