Lotteritilsynet classifies prediction markets as gambling under Norwegian law
Norway’s Lotteritilsynet told an individual on 2 July that prediction markets fall within the country’s legal definition of gambling because they involve stakes, prizes of economic value and outcomes partly determined by chance. The authority said offering or marketing unlicensed gambling breaches the Gambling Act, while using such services is not a criminal offence. A parliamentary proposal on prediction markets is expected to be debated after the summer recess.
The regulator’s interpretation puts prediction-market providers and marketers within Norway’s unlicensed-gambling rules.