SectorWire
SearchRegister
MenuClose

Philippine legal consultant says real-money prediction markets face gambling-law barriers

Regulation

A recent analysis by Philippine gaming law expert Marie Antonette Quiogue argued that real-money prediction markets would be treated as gambling under current Philippine law and require PAGCOR authorisation. Quiogue said no prediction-market platform has received a licence and that election-related wagers are prohibited; she noted that future legal reform could create room for some event contracts.

Operators considering Philippine prediction markets face a licensing requirement and restrictions on election wagers.

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