Crypto
ESMA warns many prediction market event contracts may be banned for sale to EU retail investors
The European Securities and Markets Authority warned that many prediction market contracts may already fall under an EU ban on selling certain products to retail investors. ESMA said firms cannot avoid EU financial rules by marketing such products as “event contracts”. It reaffirmed that event contracts classed as financial instruments cannot be marketed, distributed or sold to retail investors under national rules implementing ESMA’s 2018 restrictions on binary options.
