Polymarket Is Reportedly Lobbying European Nations Not To Be Treated As A Gambling Website
It wants to be treated as a financial services platform.
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Polymarket has been speaking with regulators in the European Union and the UK to persuade them to treat it as a financial services group, according to the Financial Times. That way, it wouldn't be subject to gambling laws and could overturn its ban in Spain and France. Polymarket, if you're not familiar with it, is a "prediction market" website that offers users a way to bet on the outcome of future real-world events, including elections, sports matches and tournaments, box office openings and even international conflicts.
The company reportedly talked to the European Commission and the European Securities and Markets Authority (ESMA), in hopes that they would agree to regulate it under MiFID rules. MiFID, or Markets in Financial Instruments Directive, is the EU law with standardized rules for investment services. EU nations have different gambling laws,...
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