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While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.
In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.
Bernstein estimates the global market for financial contracts will grow to $900 trillion by 2035, up from $700 trillion last year, and if prediction markets capture just 0.5% of that total, volume would increase by $4.7 trillion per year.
About Himalayan Wild
Her previous leadership roles include chairing the Independent Parliamentary Standards Authority (IPSA), the Bar Standards Board and acting as a lay member of the General Medical Council.
Evans also served as a non-executive director of the Serious Fraud Office. She led the steering group responsible for a voluntary industry code that reimburses victims of authorised push payment (APP) scams, introduced in 2018.
Ahead of his departure Counsell said the Commission was developing a new strategy and ramping up its work to tackle illegal gambling, with Evans set to play a “pivotal” role as it also finalises measures from the Gambling Act review’s subsequent white paper.
About Himalayan Wild
For example, on the role of pirate sports streaming in driving traffic towards illegal gambling, while regulators in markets such as Turkey are confronting large-scale unlicensed activity. The more fragmented and technically sophisticated the illegal market becomes, the more important the intelligence behind enforcement is likely to become.
Madsen knows from experience how difficult it can be to escape gambling when access remains readily available.
“I’m trying to address every stage: prevention, support for people who are already struggling, and then action against the illegal sites.”
