Polymarket Pushes for Financial Services Status in Europe and UK
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11 Articles
Election results, political statements, central bank decisions, Oscar winners, and the weather. These are just a few of the things people can bet on at Polymarket, one of the world's largest prediction market platforms. The New York-based company has gained popularity in recent years, especially in the United States...
Polymarket Wants Financial Status in Europe, but It May Come with a Retail Ban
Polymarket is trying to convince EU and UK regulators that its event contracts should be treated as financial instruments rather than gambling products. That classification could provide a basis for regulated operations, but contracts treated as financial instruments may also face restrictions on retail distribution. The company has held discussions with the European Securities and Markets Authority, the European Commission, the UK Financial Con…
Polymarket Lobbies ESMA for MiFID, Not Gambling Rules
Why Does Polymarket Want MiFID Status in Europe? Polymarket is lobbying regulators in the UK and European Union to treat prediction markets as financial products rather than gambling, a classification that could determine whether the platform can build a regulated business across Europe. The U.S.-based operator has met with the European Securities and Markets Authority and the European Commission as it argues that event contracts should fall und…
Polymarket Seeks to Avoid Betting Site Classification in Europe
Polymarket is seeking to avoid being classified as a betting platform in Europe. The company’s efforts come amid growing regulatory scrutiny and ongoing debates over how crypto prediction markets should be defined and overseen across the continent.
The predictive market platform seeks to be regulated as a financial service in Europe and the United Kingdom, despite already existing blockages.
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