By The Weekly Edge desk ·
Gambling Insider reported that ASIC issued guidance stating no prediction-market operator holds an Australian licence. It warned users about binary losses, insider trading and difficulties recovering money.
The guidance warns users that offshore prediction markets lack Australian licensing protections.
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The warning concerns the absence of domestic protections when Australians use offshore prediction platforms.
The warning adds prediction markets to ASIC’s consumer protection guidance.
The warning identifies an absence of Australian financial-market licensing for prediction platforms.
The warning tells users prediction markets lack Australian financial-exchange licences and may produce losses.