ASIC Says No Prediction Market Has Yet Applied for an Australian License
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On October 29, 2026, Australian Securities and Investments Commission (ASIC) Chair Sarah Court said that no prediction market operator has so far applied to conduct business in Australia. She said that any application for a financial services license would face a high threshold. ASIC believes that platforms without a license are more likely to be subject to gambling rules. ASIC previously stated that event contracts have characteristics of binary options and has extended the ban on binary options for retail clients to October 2031.
AI-written from reports · updated 1 hour ago
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- Finance MagnatesASIC: No prediction market applications to operate in Australia yet, financial services licence threshold is high
ASIC Chair Sarah Court said no prediction market operator has applied to operate in Australia, and any financial services licence application would face a high threshold. ASIC believes platforms without a licence are more likely to be subject to gambling rules; it previously said event contracts have characteristics of binary options and extended its ban on binary options for retail clients to October 2031.
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