Polymarket approaches regulators for European expansion

Polymarket has been in talks with regulators as it seeks to be regulated as a financial services provider rather than a gambling operator in Europe and the UK, the Financial Times reported. The prediction market platform has been holding discussions in London and Brussels with the European Securities and Markets Authority, the European Commission and national regulators. Polymarket is pushing to have its prediction market contracts classified as derivatives rather than bets so they would fall under Markets in Financial Instruments Directive rules.