Polymarket and Kalshi Face EU Authorization Hurdles as ESMA Flags Prediction Market Gap
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The European Securities and Markets Authority (ESMA) has stated that Polymarket and Kalshi do not have the necessary authorizations to market event contracts in the European Union. The authority also questioned the adequacy of the platforms' country and VPN restrictions.
Polymarket and Kalshi Face EU Authorization Hurdles as ESMA Flags Prediction Market Gap
Europe’s prediction market platforms are in murky legal territory. ESMA dropped a warning in its latest Trends, Risks and Vulnerabilities… Read the original on ESMA Warns Polymarket and Kalshi: EU Authorization Gaps Threaten Prediction Markets. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
The short answer to the question that German readers have been asking for months has been in a document of European supervision since 10 September 2026: The marketing and sale of event contracts in the EU basically require an EU approval, and the largest forecast market platforms do not currently have such approval. For example, the European Securities and Markets Authority writes ESMA in its TRV Risk Monitor No. 2/2026, which for the first time…
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