Australia’s Securities and Investments Commission doubts that prediction markets serve the public interest when offered to retail clients. Chair Sarah Court said on October 29, 2026, that no operator had applied for a licence to operate in the country. Any future application would be assessed against the framework for binary options, which are banned for retail clients until October 1, 2031. Before that ban, 74% to 77% of active retail clients lost money, with losses of A$15.7 million compared with gains of A$1.7 million. ASIC also warns against accessing offshore platforms such as Polymarket and Kalshi, which may expose Australian users to total capital loss and information asymmetry without local regulatory protection.
Source: Read the original article
