UK financial watchdog weighs lifting prediction markets ban: Report
Summary
The UK Financial Conduct Authority is reportedly discussing whether to lift its 2019 ban on retail access to prediction markets. The ban covers binary options-like event contracts, which the FCA said were gambling products disguised as financial instruments. Platforms such as Kalshi and Polymarket could benefit if the rule changes. UK retail users are already reportedly using VPNs to access these markets despite restrictions. The move would come as the industry grows rapidly, but it could also expose these platforms to similar regulatory and legal battles they face in the US, where state authorities are challenging sporting event contracts.
