Polymarket advances UK and European regulatory lobbying, seeking to bring prediction contracts under MiFID
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AT A GLANCE
Polymarket wants Europe to bring prediction market contracts under financial regulation rather than gambling regulations.
Article
【Polymarket lobbies Europe to bring prediction markets under MiFID regulation】
Prediction market platform Polymarket is lobbying regulators in the UK, Brussels, and multiple EU countries, hoping its prediction market contracts will be treated as financial derivatives and brought under financial services rules such as MiFID, rather than remaining subject to national gambling regulations. The company has engaged with ESMA, the European Commission, and the UK FCA, among other institutions, and is seeking to obtain licenses in Europe. Polymarket is currently raising funds at a valuation of over USD 20 billion. Several European countries remain strict regarding retail prediction markets; regulators in the UK, France, Germany, and Italy, among others, have previously indicated that the relevant businesses may require gambling licenses.
Polymarket is lobbying regulators in the UK, Brussels, and multiple EU countries.
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Polymarket wants prediction market contracts to be treated as financial derivatives and brought under financial services rules such as MiFID.
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Polymarket has engaged with ESMA, the European Commission, and the UK FCA, among other institutions, and is seeking to obtain licenses in Europe.
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Polymarket is currently raising funds at a valuation of over USD 20 billion.
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Regulators in the UK, France, Germany, and Italy, among other places, have previously indicated that the relevant businesses may require gambling licenses.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Prediction markets allow users to trade contracts related to the outcomes of events. Polymarket wants these contracts to be regulated as financial products rather than as gambling businesses.
Why it matters to readers
The regulatory classification may affect the rules Polymarket must follow and the license requirements it faces when operating in Europe.
This shows that the same prediction market business may be treated as a financial product or a gambling business in different regions.
Risks and unknowns
The text does not state whether European regulators have accepted Polymarket's position.
The text does not state whether Polymarket can obtain European licenses.
The text does not state whether the fundraising at a valuation of over USD 20 billion has been completed.
The information comes from a Telegram channel and requires further verification.
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Prediction Markets
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