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ESMA warns prediction market event contracts may face EU retail ban · Cyprus Report

Economy · World

ESMA warns prediction market event contracts may face EU retail ban

1 sourceFirst reported 19 days agoUpdated 19 days ago

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ESMA has issued a warning regarding prediction market event contracts, indicating that many may already be subject to a retail ban in the EU.
The regulator stated that entities cannot bypass EU financial regulations by labeling binary-style products as event contracts instead of derivatives.
The announcement aims to clarify compliance obligations for companies involved in prediction markets within the European Union.
ESMA's advisory is part of ongoing efforts to enhance consumer protection in the financial markets.
Companies are urged to reassess their offerings to ensure they comply with EU financial laws.

Generated by AI from the 1 sources below · always verify with the originals

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All coverage (1)

ESMA warns many prediction market event contracts already face EU retail banCointelegraph · 19 days ago

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AI summary: catch up in 20 seconds

ESMA has issued a warning regarding prediction market event contracts, indicating that many may already be subject to a retail ban in the EU.
The regulator stated that entities cannot bypass EU financial regulations by labeling binary-style products as event contracts instead of derivatives.
The announcement aims to clarify compliance obligations for companies involved in prediction markets within the European Union.
ESMA's advisory is part of ongoing efforts to enhance consumer protection in the financial markets.
Companies are urged to reassess their offerings to ensure they comply with EU financial laws.

Generated by AI from the 1 sources below · always verify with the originals