ESMA says prediction market event contracts likely fall under EU retail ban on binary options

esma.europa.eu •

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ESMA's July 3 statement says yes-or-no event contracts with fixed-or-zero payouts can qualify as MiFID II derivatives, putting them inside national binary options bans copied from ESMA's 2018 measures. Retail distribution of those contracts is already prohibited in EU member states when they meet the financial-instrument test, and non-retail distribution still needs MiFID authorization. Tokenized contracts do not get a free pass: ESMA says non-financial-instrument versions may still be MiCA crypto-assets or bets under national gambling law.

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ESMA says prediction market event contracts likely fall under EU retail ban on binary options

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ESMA says prediction market event contracts likely fall under EU retail ban on binary options

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