Gambling Is Banned in Your Country? There’s Now a Legal Loophole

[Russlenat]

I just saw a news story that surprised me and thought of sharing here...

According to this article, In some places where gambling is completely banned, people can still legally wager on sports without breaking any rules. It’s done through prediction markets, platforms that treat bets as “investment contracts” instead of gambling.

So even in places with the strictest anti-gambling laws, players can still legally bet on sports outcomes, spreads, and even non-sports events like elections or weather.
No VPN, no bypassing, no offshore sites, etc..... Just a legal workaround that fits under federal regulations.

For those living in countries where gambling is banned, check out if Kalshi is serving your area.

[TryNinja]

No RNG gambling though (slots, dice, etc...). You can't create a "investment contract" on what color (red/black) will get pulled out from a livestream... or can you?

That's why Polymarket and Kalshi and exploding, with Polymarket getting a $2 billion investment from ICE (NYSE). There's more to it than betting on sports, basically betting on anything in the world.

[Hazink]

Kalshi and Polymarket are the new of legal betting. They know what they are doing and are indirectly taking the sports betting market away from the casinos. Now gambling can be banned in a country, but the citizens who know about Polymarket can still be a bettor practising engaging through other means. The ones who will be most affected are the slot players who have no room for them as such.

[ZeroVinsonN]

This is an interesting get around on gambling although it's only doable in sports gambling as slot games and the rest can't be treated as an investment in any way I can see so if you are that kind of a gambler then you still will not be able to place bets through this means but for sports lovers who want to place bets on the outcome of the favourite teams, gambling has been made easier for them through this.

[bettercrypto]

To be honest, I really admire countries where gambling is banned, because you can consider that as a sign that the leaders of that country have great concern for their citizens.
Meaning, the leader of the country manages it well.

Unlike here in our country, where the promotion of online gambling is widespread. What’s worse is that even illegal gambling is being promoted by useless influencers who promote
it here in our country. Their deceptive promotions are very rampant, and so many lives have already been ruined by gambling because of these social media influencers.

[CryptSafe]

To be honest, I really admire countries where gambling is banned, because you can consider that as a sign that the leaders of that country have great concern for their citizens.
Meaning, the leader of the country manages it well.

Unlike here in our country, where the promotion of online gambling is widespread. What’s worse is that even illegal gambling is being promoted by useless influencers who promote
it here in our country. Their deceptive promotions are very rampant, and so many lives have already been ruined by gambling because of these social media influencers.

I have seen many scam casinos with bad reputation here doing promotion in my country and the worst of it all is that well known celebrities are the ambassador's they are using for their brand promotion and I guess most of them have no idea what goes on behind while they are doing their promotional campaign for their brands. What baffles me is that this same casino with bad reputation is mostly patronised by players because of the influence of the celebrities promoting them and they end being scammed by the casino without any knowledge of what we here know about the casino. And this keeps repeating itself all over again and players keep on being scammed by the casino.

[Dave1]

This is an interesting get around on gambling although it's only doable in sports gambling as slot games and the rest can't be treated as an investment in any way I can see so if you are that kind of a gambler then you still will not be able to place bets through this means but for sports lovers who want to place bets on the outcome of the favourite teams, gambling has been made easier for them through this.

I guess that's the downside of it, no slots, but like prediction market that really also gaining so far specially when it covered the Trump candidacy for President in the US. Your betting games is limited to this so called markets.

Not be good for those who love sports betting, but a gambler is a gambler, so he might go with it just to get around gambling as there are now a legal loophole that they can take advantage of.

[jcojci]

That is good for those who want to gamble but gambling is prohibited in their areas. But they must accept the consequences if authorities catch them gambling. That is because their areas prohibit gambling so the authorities may search for the possibility of their citizens playing gambling and warn them. But I am sure that they can search online casinos that they can access even if that means they will break their prohibition. But I bookmarked it. Thank you.

[Zlantann]

It's a smart move to bypass regulatory restrictions. Prediction ventures like Polymarket and Kalshi are under the supervision of the Commodity Futures Trading Commission, which is a federal agency. The state laws cannot override federal laws, which has made these platforms untouchable.

To be honest, I really admire countries where gambling is banned, because you can consider that as a sign that the leaders of that country have great concern for their citizens.
Meaning, the leader of the country manages it well.

The government should regulate the nature of advertisements and seek avenues to protect citizens from exploitative tendencies. Banning gambling outrightly will give room for illegal gambling companies to easily penetrate the market.  

[Solosanz]

Technically it fall to gambling, betting itself is already gambling, except the countries separate between gambling and betting. I think the country have a poor law too, they still don't have a law to forbid gambling on a project which mainly not for gambling.

That is good for those who want to gamble but gambling is prohibited in their areas. But they must accept the consequences if authorities catch them gambling. That is because their areas prohibit gambling so the authorities may search for the possibility of their citizens playing gambling and warn them. But I am sure that they can search online casinos that they can access even if that means they will break their prohibition. But I bookmarked it. Thank you.

I'm sure government don't care whether their citizen gamble or not even gambling is prohibited in their country. They won't catch small bettors because the number of people who break this rule is high and they have no urgency to catch them.

[Crypt0Gore]

To be honest, I really admire countries where gambling is banned, because you can consider that as a sign that the leaders of that country have great concern for their citizens.
Meaning, the leader of the country manages it well.

Unlike here in our country, where the promotion of online gambling is widespread. What’s worse is that even illegal gambling is being promoted by useless influencers who promote
it here in our country. Their deceptive promotions are very rampant, and so many lives have already been ruined by gambling because of these social media influencers.

Which country is that if I may ask? I don't blame those influencers, they are finding means to get foods on their tables too, fool me once it's your fault but fool me twice it's all my fault.

A gamble is not enough to destroy your life, but constant gambling is the reason why many people have no hope anymore, they ended up selling everything they have worked for simply because they somehow believed that gambling will work out for them.

They are complete fools, you failed many times as a gambler and you still can't figure it out, gambling isn't the problem, what people choose to believe in them is the problem, you can't keep throwing money away without thinking, the two times I lost money gambling was enough to correct my thinking faculty about gambling.

No one thought me to adjust my gambling strategy and also change my mindset about gambling.

[Odohu]

If gambling is banned in a country while prediction market is allowed, all sports bettors will cross over to that new area and the only people that will be left behind are casino players. I'm still studying the reason why a country will ban gambling ( which should cover casinos and sports betting) but allow prediction market. Maybe there some be something that makes prediction market good in the eyes of any law which is why Polymarket is flourishing.

[acroman08]

Good for gamblers who are in a country where gambling is restricted. Anyway, this reminds me of this video from YouTube "Exposing the Gambling Epidemic" that was shared here in the forum a week or so ago. Basically, these platforms found a way to bypass the geographical gambling restrictions by branding themselves as "prediction markets". Also, apart from being able to bypass the geo restrictions, they are also able to bypass age restriction laws(at least in the US).

[rdluffy]

No RNG gambling though (slots, dice, etc...). You can't create a "investment contract" on what color (red/black) will get pulled out from a livestream... or can you?

That's why Polymarket and Kalshi and exploding, with Polymarket getting a $2 billion investment from ICE (NYSE). There's more to it than betting on sports, basically betting on anything in the world.

Polymarket created a very good product at the right time; they had good vision

I don't know if everyone is familiar with the English betting market, which is famous for allowing bets on practically anything
They managed to bring this market online and even managed to incorporate crypto + decentralization

[Nightwalker(NW)]

This is another indirect way of dominance since some countries ban gambling site and not banning predictions market, of course they would definitely takeover in such jurisdiction because casinos won't be able to operate in those regions and it's another selling points, don't be surprised if most casinos noticed this they wouldn't mind migrating into predictions market just to have that license of operation on those countries where gambling is gambling is banned, and we could see the influx of more predictions market before from now till next two years to three years to come just to remain relevance in the field of gambling.

[Kelward]

If gambling is banned in a country while prediction market is allowed, all sports bettors will cross over to that new area and the only people that will be left behind are casino players. I'm still studying the reason why a country will ban gambling ( which should cover casinos and sports betting) but allow prediction market. Maybe there some be something that makes prediction market good in the eyes of any law which is why Polymarket is flourishing.

It beats me too, I wonder why sports bet will be banned in a country but you can predict the same games on a prediction site in the same country and it will be legal. I won't be surprised if any government that is very serious in banning sports bet will also in no time ban it in prediction sites because I don't see any different. Anyway it is opportunity for bettors in countries and cities that ban sports betting, they can place their bet in the name of predictions. Maybe prediction sounds better in the ears of bet haters, perhaps predictions and investment doesn't sound offensive to them, whatever it is let bettors continue to take advantage of it while it lasts.

[Gozie51]

If gambling is banned in a country while prediction market is allowed, all sports bettors will cross over to that new area and the only people that will be left behind are casino players. I'm still studying the reason why a country will ban gambling ( which should cover casinos and sports betting) but allow prediction market. Maybe there some be something that makes prediction market good in the eyes of any law which is why Polymarket is flourishing.

The most important thing to note is that prediction market is considered trading platform and the government doesn't ban trading platforms because they believe you can use some of the controlling features to limit your self on your money management like stop loss which is absent in gambling platforms. Prediction market looks like interecting with real life events that is not based on luck example is politics, business, sports, world events and context like miss world, Oscar etc are not luck based. But gambling especially casino games like slot, dice, plinko etc are based on luck and government doesn't depend on luck because it is not a variable the ascertainable.

So it is clear that the target to ban gambling in such countries is not because of sports betting because you are allowed to predict sports outcomes in prediction market like polymarket but you can't find casino games in prediction market. Therefore, reasonably, the target is on casino games because it is majorly luck based.