Polymarket lobbies Europe to bring prediction markets under MiFID regulation

Odaily News: Polymarket is conducting regulatory lobbying across the UK, Brussels, and multiple EU countries, seeking to have prediction market contracts classified as financial derivatives and brought under financial services regulatory frameworks such as MiFID, rather than being subject to national gambling laws. Polymarket has engaged with institutions including the European Securities and Markets Authority, the European Commission, and the UK Financial Conduct Authority, and is seeking to obtain relevant European licenses.

Reports indicate that Polymarket is currently raising funds at a valuation exceeding $20 billion. Regulators in the UK, France, Germany, and Italy have previously held that prediction market-related business activities may require local gambling licenses. (Financial Times)