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Hong Kong IFEC warns prediction-market trading may constitute illegal gambling

Regulation

Hong Kong’s Investor and Financial Education Council warned that trading on prediction markets such as Polymarket and Kalshi may amount to illegal gambling. It said users lack protection under the Securities and Futures Ordinance and may have limited recourse over disputes or losses; the government has paused plans for regulated basketball betting pending further study.

The warning signals legal and consumer-protection risks for prediction-market platforms and their users in Hong Kong.

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Regulation

CFTC directs prediction markets to lift state geoblocks within 30 days

The CFTC said on 5 November that registered designated contract markets must remove domestic geographic restrictions that conflict with its fair-access requirements within 30 days. Exchanges must also ensure partner intermediaries comply, or explain in writing why they cannot; the guidance comes amid state court orders requiring restrictions in several states.

The CFTC said on 5 November that registered prediction market operators must unblock geoblocked states within 30 days. Under its new interpretative guidance, designated contract markets that cannot comply may instead explain in writing why they cannot.

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