Question to the Department for Digital, Culture, Media & Sport:

To ask His Majesty's Government what assessment they have made of (1) the economic risks, (2) social impacts, and (3) costs, of prediction markets; and what consideration have they given to further regulation or restriction of such systems.

In order to operate in Great Britain, any prediction market would require a licence from the Gambling Commission, the independent regulator for gambling. If approved, they would be classified as a ‘Betting Intermediary’ and subject to regulation under the Gambling Act 2005. We will monitor the potential impacts of prediction markets and consider further action if needed.