Australia’s ASIC Questions Public Interest of Retail Prediction Markets

Australia’s securities regulator has questioned whether retail prediction markets serve the public interest, saying their all-or-nothing contracts can resemble bets and raise risks for market integrity. The Australian Securities and Investments Commission (ASIC) said prediction contracts can cover events with little connection to investing, including tomorrow’s weather or a sports result. ASIC Chair Sarah Court said, “Prediction market contracts have all the features of a bet.” ASIC also raised concerns about the use of confidential information, market manipulation and disputes over how contract outcomes are determined.

Source: TokenPost