UK watchdog reportedly considers lifting ban on prediction markets

The UK’s Financial Conduct Authority is reportedly considering whether to lift restrictions on prediction markets, according to Cointelegraph. The potential review concerns binary options offered to retail investors, products that have been prohibited in the UK since 2019. Under a directive issued by the FCA, companies have been barred from selling, marketing or distributing binary options to retail customers. The report does not indicate whether the watchdog has decided to remove the ban or provide a timeline for any change. Any shift would represent a review of the regulatory treatment of these products in the UK, where their retail distribution has remained prohibited since the FCA directive took effect. The development is relevant to companies and platforms assessing whether prediction-market products could eventually be made available to UK retail users, although the current restriction remains in place based on the supplied information.