UK Gambling Commission says prediction markets need betting intermediary licences
The UK Gambling Commission said on 4 February that prediction market products falling within the UK definition of gambling require its authorisation, and that current models appear likely to need betting intermediary licences. Director of Strategy Brad Enright said unlicensed operators must avoid targeting or transacting with British consumers; spread betting remains under Financial Conduct Authority supervision.
Prediction market operators targeting British consumers may need Gambling Commission authorisation and face criminal liability for operating without it.