ASIC remains cautious about prediction markets for retail clients

AI-assisted source summary · not independently verified. Content standards

ASIC said it does not currently consider offering prediction markets to retail clients to be in the public interest, but the statement is not a formal ban. ASIC said offshore prediction markets are not protected under Australian law, and Australian financial services licensees assisting clients in accessing such markets must still fulfill all licensing obligations. The position continues its cautious approach to binary options. ASIC previously said that 74% to 77% of active retail clients lost money in the 13 months before the ban, with aggregate net losses of A$14 million.