The push would let Polymarket bypass gambling laws that currently apply to EU member states and could help overturn its existing bans in Spain and France. Instead, Polymarket wants its contracts classified under MiFID, the EU’s framework for regulating investment services. To make that happen, company representatives have met with the European Securities and Markets Authority (ESMA), the European Commission, and UK Financial Conduct Authority chief executive Nikhil Rathi, along with individual member state regulators. Polymarket has also joined the industry group Blockchain For Europe as part of the broader effort.
Polymarket argues its contracts function more like financial derivatives than traditional bets, an approach that has already gained popularity in the US, where the Commodity Futures Trading Commission (CFTC) regulates prediction markets, despite criticism from individual states.
Polymarket commented:
“As we grow our presence and expand globally, we are committed to engaging early and openly with policymakers and regulators.”
ESMA doesn’t appear convinced, as its chair, Verena Ross, met with Polymarket’s legal team in June 2026, and the regulator issued a warning in September that prediction markets remain “rife with insider trading.” The UK’s FCA has said it may reconsider retail access to some prediction markets, but continues to treat betting on politics and sports as gambling, a position shared by regulators in France, Germany, and Italy.
