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Australia's ASIC doubts retail prediction markets serve the public interest and reports no licence applications, CryptosBank reports
- Australia's ASIC doubts retail prediction markets serve the public interest and reports no licence applications, CryptosBank reports — ASIC Chair Sarah Court told a parliamentary hearing on October 29 that the regulator has received no licence application from any prediction market operator and remains unconvinced the products belong with retail investors. ASIC said any application would be assessed like binary options, which are banned for Australian retail clients until October 2031 after 74 to 77 percent of retail clients lost money before the ban. (CryptosBank)
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