UK FCA Considers Easing Ban on Financial Prediction Markets

The UK Financial Conduct Authority (FCA) is reportedly in discussions with trading platforms regarding a potential relaxation of the 2019 ban on retail financial prediction markets. The FCA currently classifies financial and weather-related prediction contracts as binary options, maintaining that the ban is necessary to protect consumers from speculative risks. However, with UK users increasingly accessing overseas platforms like Kalshi and Polymarket, regulators are under pressure to adjust policies, potentially requiring FCA authorization for financial co