New Zealand-based gambling experts have claimed prediction market platforms like Polymarket are illegal under the nation's gambling laws.
Platforms like Polymarket and Kalshi are online markets where users can place bets on future outcomes, like political news events or OCR updates.
Internal Affairs Director of Gambling Vicki Scott says Polymarket meets the definition of their illegal framework - and they're looking to shut it down.
"We wrote to both Kalshi and Polymarket yesterday, explaining our view that it's clearly in breach of our laws and requesting their immediate removal from the New Zealand market."
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Heather du Plessis-Allan Drive