Australia regulator doubts retail prediction markets, says they resemble bets
AI summary
Australia's corporate regulator, ASIC, said retail prediction markets may not be in the public interest, arguing the contracts have "all the features of a bet." The statement stops short of a formal ban and came a day after ASIC Chair Sarah Court told senators that no prediction market operator has applied for a license. Traders in event and prediction markets should watch for tighter Australian oversight, though no enforcement action has been announced.
