Polymarket lobbies European regulators to classify prediction markets under MiFID

Prediction market platform Polymarket is lobbying in the UK, Brussels, and across the EU to have its prediction market contracts classified as financial derivatives under MiFID and other financial service regulations, rather than gambling laws. The company has engaged with the ESMA, the European Commission, and the UK FCA to seek licensing. Polymarket is currently raising funds at a valuation exceeding $20 billion, as regulators in countries like the UK, France, Germany, and Italy have previously indicated that such services may require gambling licenses.