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

To ask the Secretary of State for Culture, Media and Sport, whether prediction markets will be regulated by the (a) Gambling Commission and (b) Financial Conduct Authority.

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.