ASIC says no prediction market licence applications received as Polymarket faces scrutiny

The story so far: ASIC scrutiny of prediction markets

ASIC chair Sarah Court told a parliamentary hearing no prediction market operators, including Polymarket, have applied for an Australian licence. She said such platforms resemble banned binary options and would face strict licensing scrutiny; authorities have ordered Polymarket access blocked.

1. 29 Oct 202604:26 UTC

   ASIC says no prediction market licence applications received as Polymarket faces scrutiny

   Australian Securities and Investments Commission chair Sarah Court told a parliamentary hearing the regulator has received no applications from prediction market operators. She said such platforms, including Polymarket, resemble binary options banned in Australia and would face strict licensing scrutiny.

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2. 29 Oct 202604:28 UTC

   Sarah Court says prediction markets resemble gambling more than investment

   ASIC chair Sarah Court told a parliamentary hearing that prediction markets share features with binary options, where investors can lose their whole stake, and no operator has applied for an Australian licence. Authorities previously ordered access to Polymarket blocked in a crackdown on illegal online gambling.

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3. 30 Oct 202616:02 UTC

   ASIC's Sarah Court says no prediction market operators have applied for a licence

   ASIC chair Sarah Court told a parliamentary hearing the regulator has received no applications from prediction market operators, so platforms such as Polymarket may face strict scrutiny in Australia. She said their win-or-lose mechanism resembles binary options, which Australia has banned.

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