Australia makes landmark decision that ‘prediction markets’ like Polymarket are gambling
Crikey
Australia's ACMA has determined that 'prediction markets' like Polymarket constitute gambling, impacting the future of the industry.Summary
The Australian Communications and Media Authority (ACMA) has made a landmark decision classifying “prediction markets,” such as Polymarket, as gambling. This determination stems from an investigation prompted by Crikey’s reporting on a Trump-linked company operating such a platform. The core question for the ACMA was whether these platforms, which allow users to earn money by correctly predicting event outcomes, were gambling operations or legitimate financial instruments. Documents obtained through a freedom of information request reveal the ACMA’s conclusion that these platforms fall under the definition of gambling, carrying significant implications for the future of the gambling industry in Australia.
(Source：Crikey)