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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.

Crypto

Nasdaq files with U.S. SEC for prediction market-style binary options product

Nasdaq has filed with the U.S. Securities and Exchange Commission for approval to introduce a binary options product linked to the Nasdaq 100 index, The Block reported, citing Bloomberg on March 2. The filing includes a new contract type called an “outcome-linked option,” using both the Nasdaq 100 and a smaller micro version index as underlying assets. The structure resembles prediction markets such as Polymarket and Kalshi, but would be regulated by the SEC as a securities option.