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ASIC links prediction contracts to bets, citing Australian retail restrictions

In a Friday release, the Australian Securities and Investments Commission said prediction market contracts have all the features of a bet and share characteristics with binary options, which are prohibited for retail clients in Australia. No prediction market platform is licensed in Australia, and Polymarket is already on the communications regulator blocked gambling website list.

Regulator draws a line on retail access

The Australian Securities and Investments Commission said prediction markets are not in the public interest for retail clients, according to Complete iGaming. The regulator set out its position in a Friday release.

ASIC said prediction market contracts contain all the features of a bet. It also identified similarities with binary options, which are prohibited for retail clients in Australia.

Licensing and blocking are separate signals

No prediction market platform is licensed in Australia, according to Complete iGaming. That absence of licensing sits alongside ASIC’s assessment of the contracts’ characteristics.

Polymarket is already included on the communications regulator’s list of blocked gambling websites. The reported position therefore spans both ASIC’s concerns about retail products and an existing access restriction affecting a named platform.

What it means for prediction markets

  • Retail treatment is the central issue: ASIC’s comparison with prohibited binary options signals its negative assessment of prediction contracts for Australian retail clients.
  • Licensing remains a constraint: No prediction market platform currently holds an Australian licence, according to the reporting.
  • Polymarket faces an existing restriction: Its inclusion on the blocked gambling website list is distinct from ASIC’s Friday statement.
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    Complete iGaming
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