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Australia's ASIC says it is not convinced retail prediction markets are in the public interest and likens the contracts to bets, The Straight reports
- Australia's ASIC says it is not convinced retail prediction markets are in the public interest and likens the contracts to bets, The Straight reports — ASIC Chair Sarah Court said prediction market contracts are highly speculative all-or-nothing products sharing features with binary options, which are banned for Australian retail clients until 2031. No operator is licensed in Australia or has applied for a licence, and Australians using offshore platforms have no protection under Australian law. (The Straight)
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