France’s gambling regulator is examining the operations of cryptocurrency-based prediction markets platform Polymarket to see if it complies with its rules following a surge in user demand around the US presidential election.

Many people involved in crypto markets had reason to gloat on Wednesday about Donald Trump’s win, but one closely watched French trader’s bets are poised to pay out millions of dollars on the election’s outcome.

France's gambling regulator said it's looking into Polymarket to determine compliance with domestic laws.That comes after one "whale" who bet $30 million on a Trump win was revealed to be a French national.

France's gambling regulator said on Thursday it was examining whether Polymarket, the platform where a French trader placed a successful multi-million dollar bet on Donald Trump winning the U.S. presidential election,

French regulators consider banning Polymarket, a popular cryptocurrency prediction platform, as it faces scrutiny over gambling laws.

French regulators consider banning Polymarket following $3.5 billion in US election betting volume and a $47 million payout to a single French trader.

A Polymarket French bettor made an astounding $78.7 million profit by betting on Donald Trump’s victory in the US presidential election.