SectorWire
SearchRegister
MenuClose

Philippine gambling-law expert says real-money prediction markets are unauthorised

Regulation

In an analysis, Philippine gaming law expert Marie Antonette Quiogue argued that real-money prediction markets targeting users in the Philippines fall under gambling law and require PAGCOR authorisation. She said no prediction market platform has received a licence and that election betting is prohibited; no-stakes markets are an exception, while any future financial-instrument framework would require new legislation.

Operators considering Philippine users face stated licensing and legal barriers to offering real-money event markets.

Request a correction

Flag an issue

Keep reading

Regulation

Masto says sports prediction markets are gambling and criticises CFTC directive

Nevada senator Catherine Cortez Masto said sports prediction markets constitute gambling and criticised a CFTC directive on access to federally regulated exchanges. The directive gave exchanges 30 days to comply or explain why they could not, a requirement that the coverage says complicates operators’ responses to state court orders.

Federally regulated exchanges have 30 days to lift restrictions based on traders’ residence within the United States or explain why they cannot, under an order issued last week by the CFTC. The order added compliance difficulties for prediction market operators facing court-ordered access limits in states including Michigan, Nevada and Washington.

Continue reading