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ACMA flags AI use and risks in Australia’s regulated gambling market

Regulation

ACMA highlighted technology use by operators and customers in Australia’s regulated gambling market, according to a report. The available report text gives no further details on the findings or figures.

The report raises regulatory attention to AI use and potential gambling-related harm in Australia.

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Regulation

ASIC questions retail value of prediction markets in Australia

ASIC chair Sarah Court said the regulator remains unconvinced that retail customers should trade prediction-market contracts in Australia. ASIC said the contracts can resemble bets with all-or-nothing outcomes and warned that Australian financial services licensees remain responsible for their legal obligations when facilitating access to offshore platforms.

The Australian Securities and Investments Commission has again criticised prediction markets and says it is still not persuaded that retail customers ought to trade them. The newest remarks came from Sarah Court, who chairs ASIC, and follow by only months a warning to Australians about offshore prediction platforms.

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