Argentina's government has introduced the Bill for the Prevention of Gambling and Regulation of Online Gambling, which aims to control online betting and reduce gambling addiction. According to reports from the Ministry of Health, the bill seeks to organize the virtual betting market while protecting children and teenagers from online gambling platforms. The proposal would involve several state bodies including the central bank, securities regulator, communications agency, and domain registry. As per the latest reports, the legislative package was developed with active input from the Ministry of Health and Sedronar—the state agency responsible for addiction policies, representing a major pivot in the government's strategy toward digital finance.
The bill would directly target financial access for illegal gambling sites by prohibiting banks, fintech companies, crypto exchanges, and wallet providers from facilitating or processing any transactions for unauthorized online gambling platforms operating within Argentina. As reported by the Ministry of Health, financial entities, payment service providers, or virtual asset providers are specifically barred from offering their services to unauthorized gambling operators. This wording places crypto firms inside the payment-control system, potentially requiring exchanges, payment processors, and fiat on-ramps to implement stronger compliance checks. The most severe aspect involves amendments to the Argentine Penal Code, with the project introducing prison sentences ranging from 2 to 4 years for individuals or companies providing financial, technological, advertising, or digital asset services to illegal betting operators.
The proposal would change Argentina's Penal Code to impose prison terms of three to six years for people who run or organize unauthorized betting systems, with harsher sanctions applied if minors are involved. Additionally, individuals providing key financial, digital, advertising, or technology services to illegal operators would face two to four years in prison. Advertising rules would also tighten, requiring media firms, influencers, agencies, and digital platforms to verify that gambling operators have official approval before promoting them. The government is planning a coordinated enforcement system involving the National Securities Commission (CNV) with expanded oversight powers to monitor crypto brokers and platforms linked to suspicious gambling transactions, while the Central Bank of Argentina (BCRA) will be legally obligated to block and freeze transfers to betting operators.
The proposal follows Argentina's earlier move against Polymarket in March, when a Buenos Aires court ordered a nationwide block of the prediction market platform. According to reports, authorities cited concerns over crypto payments, identity checks, and access by minors. This regulatory action aligns with similar moves by Spain and India, which also blocked Polymarket over gambling license concerns. The bill still requires congressional review, but if passed, would provide Argentina with stronger tools to cut illegal gambling sites from payment and crypto rails. Market observers view this move as a clear signal to the crypto industry, with regulators now expecting active transaction monitoring rather than just perfunctory AML compliance, potentially driving up compliance costs across the sector. The global crackdown on prediction markets has intensified, with monthly trading volume growing from less than $100 million at the start of 2024 to more than $13 billion by the end of 2025, as reported by CBS.
