SectorWire
SearchGet the daily briefing
Menu

Polymarket seeks European regulatory treatment as a financial services platform

Regulation

Polymarket has held talks in London, Brussels and other European capitals to argue that its prediction-market contracts should fall under financial services rules rather than national gambling laws, reportedly. The company has approached the European Securities and Markets Authority and the European Commission, while seeking a licence to operate legally across Europe.

The regulatory classification could determine whether Polymarket can obtain authorisation to operate across European markets.

Request a correction

Keep reading

Regulation

US election leaves prediction market legal disputes before courts

The US mid-term election brought Democrats control of the House and Senate, while state regulators and prediction-market operators continue to dispute the legality of sports event contracts. New Jersey Attorney General Jennifer Davenport asked the Supreme Court in September to review whether federal law prevents states from regulating those contracts; a law professor quoted in the report said he expects the court to hear the challenge.

New Jersey Atty. Gen. Jennifer Davenport petitioned the Supreme Court in September to consider whether states may regulate sports offerings on prediction markets. Democrats took control of both the House and the Senate in the mid-term election.

Continue reading