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BusinessQuiet 44h · day 2

Polymarket lobbies EU and UK regulators to escape gambling rules

The prediction-market platform is pushing to be regulated under financial-services law instead of national gambling regimes, as ESMA warns of insider trading.

newest coverage 1d agosummary written 1d ago5 pieces NewswiresMastodon

What to know

  • Polymarket wants to be regulated under EU financial-services law (MiFID) instead of a patchwork of national gambling rules.
  • Success could reverse existing bans in Spain and France, where the platform is currently blocked.
  • ESMA appears reluctant, having recently flagged insider-trading risks on prediction markets, and Polymarket separately faces scrutiny over allegedly paying influencers to post misleading betting videos.

“financial or certain climactic events”

UK Financial Conduct Authority, UK financial regulator · Engadget ↗ · Sep 21

Polymarket US prediction-market platformNikhil Rathi Chief executive, UK Financial Conduct AuthorityESMA European Securities and Markets AuthorityEuropean CommissionEuropean Commission EU executive body

Polymarket lobbies EU and UK regulators to escape gambling rules
Engadget

How it unfolded 2 developments, newest first · click a bar or a number to jump articles

Peak 2 pieces in one hour at Sep 22, 3 AM; 5 pieces over 2 days (4 articles · 1 post) Sep 21, 11 PM — 1 piece · 1 article — Newswires 1Sep 22, 12 AM — quietSep 22, 1 AM — quietSep 22, 2 AM — quietSep 22, 3 AM — 2 pieces · 2 articles — Newswires 2Sep 22, 4 AM — quietSep 22, 5 AM — 2 pieces · 1 article · 1 post — Mastodon 1, Newswires 1Sep 22, 6 AM — quietSep 22, 7 AM — quietSep 22, 8 AM — quietSep 22, 9 AM — quietSep 22, 10 AM — quietSep 22, 11 AM — quietSep 22, 12 PM — quietSep 22, 1 PM — quietSep 22, 2 PM — quietSep 22, 3 PM — quietSep 22, 4 PM — quietSep 22, 5 PM — quietSep 22, 6 PM — quietSep 22, 7 PM — quietSep 22, 8 PM — quietSep 22, 9 PM — quietSep 22, 10 PM — quietSep 22, 11 PM — quietYesterday, 12 AM — quietYesterday, 1 AM — quietYesterday, 2 AM — quietYesterday, 3 AM — quietYesterday, 4 AM — quietYesterday, 5 AM — quietYesterday, 6 AM — quietYesterday, 7 AM — quietYesterday, 8 AM — quietYesterday, 9 AM — quietYesterday, 10 AM — quietYesterday, 11 AM — quietYesterday, 12 PM — quietYesterday, 1 PM — quietYesterday, 2 PM — quietYesterday, 3 PM — quietYesterday, 4 PM — quietYesterday, 5 PM — quietYesterday, 6 PM — quietYesterday, 7 PM — quietYesterday, 8 PM — quietYesterday, 9 PM — quietYesterday, 10 PM — quietYesterday, 11 PM — quietToday, 12 AM — quietToday, 1 AM — quiet 12
Sep 22yesterdaynow · 2:56 AM ET
  1. 2

    Engadget details lobbying campaign and past controversies

    Follow-up coverage detailed Polymarket's meetings with EU and UK regulators, noted the FCA's existing split of authority between financial and gambling regulators, and recalled prior reports that Polymarket paid influencers for fake betting videos, half of which would have lost in reality.

    “rife with insider trading…”
    — ESMA, EU securities regulator · source
    1. 1 outlet Polymarket is reportedly lobbying European nations not to be treated as a gambling website

      first by Engadget, 1d ago

  2. 1

    Polymarket lobbies EU and UK to be treated as a financial firm

    The Financial Times reported Polymarket is lobbying regulators in London, Brussels and across the EU — including the European Commission, ESMA and FCA chief Nikhil Rathi — to be governed by financial-services law (MiFID) instead of national gambling rules, which could let it overturn bans in Spain and France.

    1. 1 outlet Sources: Polymarket is lobbying regulators in London, Brussels, and across the EU to be governed by financial services laws rather than local gambling rules

      first by Financial Times, 1d ago

    2. 1 outlet Polymarket starts European lobbying blitz to win over financial watchdogs

      first by FT, 2d ago

  3. background

    ESMA warns prediction markets enable insider trading — The EU's securities regulator issued a warning that prediction markets are prone to abuse, following cases involving a Google employee, political candidates and a White House staffer trading on inside information.

  4. background

    France orders ISPs to block Polymarket — French authorities ordered internet service providers to block local access to Polymarket, citing its unlicensed operation as a betting platform.

  5. background

    Spain blocks Polymarket and Kalshi — Spain blocked access to both Polymarket and Kalshi while it investigates whether the platforms can legally operate without a gambling license.