US prediction platform Polymarket has gone to court in The Hague to overturn a Dutch ban on its services, arguing that it sells financial products, rather than bets.
The company confirmed the case to the Financieele Dagblad. The judges will reportedly be asked to decide whether betting on real-world events counts as gambling, which the Dutch gambling regulator Ksa says that it is.
Polymarket argues that it is more like trading in derivatives, which should be supervised by financial markets regulator AFM.
Polymarket users buy contracts that pay out in USDC, a type of cryptocurrency whose value is equal to the US dollar, if a particular event does or does not happen.
