SectorWire
SearchGet the daily briefing
Menu

Italian rules leave prediction markets between betting and finance

Regulation

A report says prediction markets including Polymarket, Kalshi and PredictIt are difficult to classify under Italy’s betting and financial rules. Betting operators fall under ADM concessions, while brokers offering CFDs and derivatives are subject to MiFID rules and CONSOB oversight; the report says the new platforms combine features of trading, betting exchanges and crypto markets.

Unclear classification could affect how operators and financial firms are regulated and taxed in Italy.

Request a correction

Keep reading

Regulation

CFTC orders exchanges to end US geofencing within 30 days

The Commodity Futures Trading Commission ordered designated contract markets to end US geofencing that conflicts with impartial-access requirements within 30 days, or explain why they cannot comply. The order puts exchanges offering sports-event contracts at odds with court orders restricting Kalshi in several states and on tribal lands. Chairman Michael S. Selig said derivatives markets must operate nationally.

Within 30 days, designated contract markets must end geofencing restrictions in the U.S. that violate “impartial access requirements,” or give reasons they cannot comply, the CFTC has ordered. CFTC Chairman Michael S. Selig said in a statement that derivatives markets "must operate on a uniform basis at a national scale" to serve the purposes of the Commodity Exchange Act.

Continue reading