Australia’s ASIC Has Received No Prediction Market Applications

The Australian Securities and Investments Commission (ASIC) has received no applications from prediction market operators, and Chair Sarah Court told a parliamentary hearing any application for permission to operate in Australia would face strict scrutiny.

Court compared prediction markets with binary options, which Australia has banned. She pointed to their all-or-nothing outcomes and said prediction markets often focus on events unrelated to investing or financial markets.

Australian users can still access offshore platforms such as Polymarket, Court said. Users are not protected by local financial regulation and may have difficulty accessing dispute resolution or protections for customer funds.