Polymarket has been communicating with EU and UK regulators to be recognized as a financial service institution rather than a gambling site. The move follows a prior lawsuit where Polymarket sued New York Attorney General Letitia James and other state officials to block regulation of its prediction market. The coverage notes regulatory uncertainty and varying national rules across Europe.
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CN outlets highlight the intent to have Polymarket governed as a financial services platform under MiFID, and note ESMA warnings about insider trading in prediction markets.
Less emphasis on the legal case in New York or the precise regulatory stance of each UK/EU body beyond MiFID alignment.
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