Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 31 March 2026 to Question 122645 on Sports: Regulation, and with reference to the FCA Perimeter Report published in March 2026, which regulator Parliament has conferred powers upon for the regulation of sports spread betting and other non-financial spread betting products.

As set out in the government’s previous answer on 31 March, the Financial Conduct Authority (FCA) has clarified that non-financial spread betting products are not financial instruments, and that the FCA’s regulatory framework does not account for gambling activity in relation to events which are not connected to financial markets. The Gambling Commission does not licence products whose name, branding or marketing contain language associated with financial products.

The government and parliament are responsible for setting the remits for the FCA and Gambling Commission, including setting out in legislation what types of activities are regulated. The remits of both regulators are detailed and complex, reflecting the diversity and complexity of products available. Responsibility for determining this is a cross-departmental effort.