Polymarket is reportedly leading a “lobbying blitz” in the UK and Europe to secure the status of its products as a financial service rather than gambling.
The prediction markets giant, one of the two biggest in the world alongside arch rival Kalshi, has been evicted from several European nations including Italy, the Netherlands and France, to name a few.
Regulators have largely labelled prediction markets as a form of gambling. Polymarket is seeking to change this outlook, according to the FT, hoping to convince European regulators to take the same approach as the US Commodity Futures Trading Commission.
According to the FT, Polymarket has been meeting regulators in London, likely the Financial Conduct Authority, and in Brussels, reportedly with the European Commission and European Securities and Markets Authority, as well as with other national regulators across the European Union.
