The UK Financial Conduct Authority is in talks with several trading platforms about a possible loosening of its ban on financial prediction markets for retail investors, according to The Times. The restriction has been in place since 2019, when the regulator classified prediction contracts tied to financial outcomes and some weather events as binary options and barred them from being sold to retail users. The report said the review comes as more UK consumers turn to offshore venues such as Kalshi and Polymarket. Even so, the FCA’s public position has not changed: it still formally supports keeping the ban in place while consultations continue.
According to The Times, the UK Financial Conduct Authority, or FCA, has held talks with several trading platforms about possibly relaxing the ban on financial prediction markets for retail investors that has been in place since 2019.
The regulator had previously treated prediction contracts linked to financial outcomes and some weather events as binary options. On that basis, it barred such products from being sold to retail investors starting in 2019.
The report said the FCA is reconsidering the restriction as more UK consumers shift to offshore platforms including Kalshi and Polymarket. The regulator’s public position, however, still supports keeping the ban in place.
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