Polymarket pushes for MiFID status as Europe weighs prediction market rules
The prediction market platform is seeking MiFID treatment as it pursues a European license and a funding round valuing it above $20 billion.
- Polymarket has initiated a lobbying campaign with European and British regulators, seeking to classify its prediction contracts as financial derivatives rather than gambling products.
- The company argues that financial market supervision provides a more suitable framework than national gambling regimes, which have restricted access in France, Italy, and the Czech Republic.
- ESMA warned in July that some event contracts could qualify as financial instruments under the Markets in Financial Instruments Directive , potentially triggering existing EU restrictions on binary options.
- Alongside lobbying, Polymarket is seeking approximately $1 billion in new funding at a valuation exceeding $20 billion, while Britain's Gambling Commission maintains that political and sports markets fall under its purview.
- Committed to global expansion, the firm recently joined the industry group Blockchain For Europe to bolster policy engagement, as regulators continue to discuss potential shifts in treatment for retail financial prediction markets.
13 Articles
13 Articles
Polymarket pushes for MiFID status as Europe weighs prediction market rules
Polymarket has stepped up talks with European and UK regulators as the prediction market platform seeks financial services oversight for its contracts instead of being regulated primarily under national gambling laws. According to the Financial Times, the New York based…
Polymarket is lobbying the EU and Britain to recognize it as a financial company rather than a gambling company
Polymarket is lobbying the EU and Britain to recognize it as a financial company rather than a gambling company. This was reported by the FT newspaper, citing sources.The company is holding meetings with "some regulators of individual countries, as it...
How to consider a prediction market: Polymarket wants to be considered a financial service and not a betting platform.
Polymarket increases lobbying activity in Europe and the United Kingdom with a precise objective: to convince the authorities that the contracts negotiated on the platform should be considered financial products, and not bets subject to the different national rules on the game. A regulatory match that could have a profound impact on the possibilities of development of prediction market in the market [...]
Key points of the news: Polymarket pushes regulators from the UK and the EU to have their contracts classified as financial products and not as bets. The platform seeks a framework based on MiFID, the European financial instrument directive, and has already met with ESMA, the FCA and the European Commission. ... Read more
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