- Google is now permitting prediction marketing advertisements with their latest advertising policy update.
- A Massachusetts judge rules that Kalshi is not licensed to offer sports wagering in the state.
- Portugal ordered Polymarket to cease their operations and be blocked in the country after an influx of election betting.
BOSTON – Google has updated their advertising policy, permitting ads from prediction markets like Kalshi and Polymarket. While some argue that prediction markets too closely resemble legal sports betting, Google reclassifies them as financial products rather than gambling.
Google defines prediction markets that are permitted for ads as “platforms that facilitate the listing of or provide customer access to Exchange-Listed Event Contracts related to economics, sports, or current events in the United States.” The Google policy update also states that eligibility is limited to those authorized by the Commodity Futures Trading Commission (CFTC) or as a Brokerage by the National Futures Association (NFA).
While Google reclassifies prediction markets as financial instruments instead of gambling products, some states with sports betting see it differently. Google’s latest policy change will exclude Nevada amidst legal disputes against prediction markets like Kalshi.
Massachusetts Rules Out Kalshi, Portugal Orders Polymarket
In Massachusetts, a judge ruled that prediction market operator Kalshi cannot offer bets on sports through their online platform. Per the request of Massachusetts Attorney General Andrea Joy Campbell, a superior court judge said in the court decision that Kalshi is prohibited from allowing Massachusetts users to use the platform to place any bets on the outcome of sporting events without a state license.
Taking the prediction market discussion internationally, Portugal ordered the blocking of prediction market giant Polymarket. The Portuguese Gaming Regulation and Inspection Service issued a cease-and-desist order after determining the operator isn’t authorized to offer betting services in the country, especially political betting that is prohibited under national law.
Portugal’s gambling regulation noted a surge in election betting on the platform right before official election results were listed. The topic of prediction markets continue to be controversial, even outside of the United States.
