UKGC says prediction markets require gambling licences in Great Britain
The UK Gambling Commission (UKGC) said on 4 February that prediction markets offered in Great Britain would fall under existing gambling law if they meet the legal definition of gambling. It said operators would need appropriate licences and could be treated as betting intermediaries, while spread betting remains under Financial Conduct Authority rules.
Operators considering prediction markets in Great Britain may need a betting intermediary licence and must meet UKGC standards.