Sorare could fall into the category of pool betting or gaming regulated activity under the Gambling Act 2005, according to Richard Williams, gambling and regulation partner at Keystone Law.
The Gambling Commission put NFT fantasy football site Sorare.com on notice when it cautioned customers against using the platform, with the speculative nature of its digital trading cards raising questions about the company’s categorisation.
Since then, speculation has abounded about where Sorare will end up when the Commission completes its enquiry.
In quotes sent to Gambling Insider, Williams offered his insight on the possible outcomes: “The Commission will no doubt carry out a thorough review of the product, but there is certainly a legal question mark over this.”
