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

[Eternad]

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.

This is on gray area for now but any country with strict restrictions to gambling can include betting market as scope of their gambling restrictions law in the future once this loophole was heavily used to bypass their law.

Polymarket already have an issue about this on US before because they are trying to use this loophole so.

The title should specifically indicate that this is for sports betting only.

[Sanitough]

That could be true, but I don't think that that is what's happening or going to happen, other countries that allows sports betting still have a large population from those countries who are using sports book. If care is not taken, there is how things can change in those countries that ban gambling, they would still ban poly market. Once country already did that and a thread was created in regards to it but I can't find the thread.

They have every right to ban Polymarket since it doesn’t have any global license. But Kalshi is different. It’s a competitor of Polymarket, but it actually has a license in the US, so that’s the big difference between the two. This platform will likely dominate because it has the credibility and it’s operating legally.

[traderethereum]

Nothing will stop gamblers from gambling. Even if the platforms treat bets as "investment contracts," that is still gambling. The regulator may not think that is betting especially if they are not familiar with it. The regulator needs to be active to investigate this or they will be late to realize that the bad effects happen to their people.

That will give them a chance to place their bets. They will not be afraid if that breaks their law because that loophole helps them to still playing  gambling.

[Yorubek]

Although gambling has been banned in various countries, it has not been completely stopped and it will never be able to be stopped. Gamblers will gamble in one way or another despite the obstacles. With the passage of time, the common people are becoming more attracted to gambling. This may be due to various reasons such as excessive greed and the hope of getting rich quickly. However, I think that gambling should be mainly for entertainment purposes. By expecting more than this, the risk can increase manifold.

[Agbamoni]

The government can be so foolish. If they want to remove anything betting, they should do so, including polymarket, kalshi, and exploding. None should be left to operate within the region. What they don't know, or perhaps they know but are acting ignorant to, is that they are only enforcing the law on sports betting and casino platforms. What is the essence of a bettor can still bet on games legally.

[Bitcoin Smith]

The website you mentioned is also banned in India, just like poly market.

So I don't know using VPN and making a bet is still legally right?

However, crypto casinos are accessible with no issues and government haven't sent any notices to ISP to block them from their customers but they did that for crypto exchanges.

[Fivestar4everMVP]

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.

The question now would be, what about places where the prediction market is banned, like the website is banned or restricted in a such a manner that the citizens can't access the site except they introduce the use of VPN to bypass the restrictions, can we still assume that citizens who do this are still lagally gambling?

The thing is, If I stay in a city where gambling is absolutely banned, then I have no business becoming a gambler in the first place as becoming one could simply be me exposing myself to risks that can be totally avoided..
But maybe haven't become a gambler before gambling in that city got banned, then I will either quit or move to another city where gambling is allowed.. Using prediction market for sports betting won't give the same feeling as actual betting on sports through casinos.

[Fiatless]

The government can be so foolish. If they want to remove anything betting, they should do so, including polymarket, kalshi, and exploding. None should be left to operate within the region. What they don't know, or perhaps they know but are acting ignorant to, is that they are only enforcing the law on sports betting and casino platforms. What is the essence of a bettor can still bet on games legally.

In the legal profession, they call these legal loopholes lacunae. Laws cannot be perfect, that's why there will always be amendments. These prediction platforms are simply taking advantage of the loopholes in the US law. I trust that the state legislative arm might seek means to block this lacuna, or they might approach the court.

[Hispo]

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.

Though, even though you have that personal perception of leaders in countries where gambling is completely banned, you also need to keep in mind there is much value in allow people to do whatever they want with their money and also there is much value on allowing people whatever they want (as long as they are not hurting anyone).
For example, people have thought it would be beneficial for the people of the United States if the government of that country made some junk food and beveraged forbidden for human consumption, so the rate of obesity in their society would decrease, so would heart illnesses, but people in the end, have the right to consume whatever they want.

It would be similar to banning cigarettes, people and the government know they are bad for health, but people understand the risk and choose to pay their taxes to buy them. (Tobacco taxation).

[Shinpako09]

Never heard of Kaishi until now, but Polymarket, yes. So both are prediction sites. They’ve been getting attention lately since almost everything that can be predicted is being included there. Honestly, I haven’t visited either of the two, but I’m sure they will take a slice of the pie in the betting industry sooner or later. There were even months when I kept seeing Polymarket everywhere, even with nonsense predictions. Lol. Now because of this, maybe I’ll give it a try soon.

[Raflesia]

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.

In my country, gambling is prohibited, and the government has emphasized this, yet many people still gamble. Furthermore, online gambling now makes it easy to access anywhere and anytime. Although this opportunity doesn't serve my country, I suspect many people will still gamble.

I believe this is due to the difficulty of finding work, and those frustrated with the job search are looking for ways to make money quickly, whether through gambling or trading. However, in my country, although the government prohibits gambling, they are not firm in handling these cases. It could be said that each individual gambles individually. The government allows people to gamble, even though the warnings are only gentle warnings, so they don't have a significant impact. This may even apply to their leaders.

[HONDACD125]

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?

People find workarounds for them as well. Even in countries where gambling is generally prohibited or illegal, you can find mobile apps and websites where you can do gambling, and you can fund your gambling account with mobile wallets that are operational within the country. In my country, the same is the situation. Gambling is illegal here, but there are so many gambling apps and platforms available for android and iphone users, and there are even websites where one can play without downloading an app.

You can play slots, dice, fish games, poker, roulette, and even do sports betting in some of the platforms that allow it. Basically, you can do all sorts of gambling without having to do KYC or anything like that. If you win, you can withdraw, maybe not very large amounts, but small amounts won't require you to do KYC or anything like that. It's a crazy world we live in.

[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?

People find workarounds for them as well. Even in countries where gambling is generally prohibited or illegal, you can find mobile apps and websites where you can do gambling, and you can fund your gambling account with mobile wallets that are operational within the country. In my country, the same is the situation. Gambling is illegal here, but there are so many gambling apps and platforms available for android and iphone users, and there are even websites where one can play without downloading an app.

You can play slots, dice, fish games, poker, roulette, and even do sports betting in some of the platforms that allow it. Basically, you can do all sorts of gambling without having to do KYC or anything like that. If you win, you can withdraw, maybe not very large amounts, but small amounts won't require you to do KYC or anything like that. It's a crazy world we live in.

But do they do that illegaly?

The thing is that Polymarket is a legal way of gambling on sports, even when gambling is forbidden by law.

Your country might say slots are illegal but someone launches one anyways. The problem is that someone powerful enough can launch attacks and try to shut it down, or keep the money on the traditional banking system (i.e the accounts of the partner accepting the deposits and processing withdrawals).

[GoldBitcoin112]

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.

Truly so gambling can be indeed be banned in many countries I wonder because the way gambling is going in my country I don't think if they will banned gambling because many are doing it as if is their own ,do you know that people fight in the gambling sites , making some kind of utrance just because of gambling but if the fight continues and more killings I believe the president can banned gambling if all this continues but if it doesn't I think people will continue to gamble.

[Slow death]

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.

But if gambling is banned in your country, then you'll also have to stop participating in any signature campaigns. One of the biggest problems people have is not looking far ahead before making decisions. Gambling shouldn't be seen as an enemy to be eradicated, but rather something that can be properly regulated, allowing gambling companies to partner with the government. This way, people can gamble, the government can collect taxes, and awareness campaigns could reduce the number of addicted people and prevent further addiction.

[aioc]

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

Maybe not for long, because in the same article, their existence is being challenged, and many more states join the campaign, they could be out in those states, when gambling is banned in your country, and the government becomes aware of it, they can take legal action to ban the platform. Every country has its own way to do it.
This is the first time I read about Kalshiand they could challenge Polymarket's share of the market in this kind of conceopt in gambling

Utah is among 35 other states that joined a bipartisan coalition against Kalshi in June, “challenging a federal court ruling that risks creating a loophole for unregulated gambling.”

Since then, several states have filed suit against the company.

[rachael9385]

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.

Most of these countries where gambling activities are banned is actually for a reason, the government of those countries are not just trying to dictate and ve controlling they must have seen sowm damages it has caused and that approach is probably the best they could come up with to curb the negative effects it has on the citizens but no matter what they do they can't totally stop people from gambling

[Renampun]

We know that even though such activities aren't currently prohibited, that doesn't mean the government won't catch wind of it and enact similar regulations in the future, making participating in predictions a violation, moreover, if they deem predictions similar to betting, they may classify it under the same regulations. furthermore, many countries are quite strict about cross-border platform operations within their countries, and it's possible that Polymarket and Kalshi will face restrictions, leading players to continue using VPNs, which would still be illegal.

[Localhostspeed]

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.

This looks like Polymarket predictions. I don't like this kind of bet, it's not like the traditional one you can bet and do everything you like. This particular website is too centralized by government, not even a company. The government is going to watching you, no matter how they try to make this look, they will never allow it looks like the traditional casino and play other games, it's not given you the vibe of full travel especially one that response.

I don't mind the government taxing me, I don't mind them doing their job but they should allow people to gamble and enjoy their usual casino. If there is no financial concern, health concern but there is addiction concern, this can be controlled through other means like allowing small deposit and restrictions of large deposit. Any casino that want to provide service must be fully registered and incorporated with the country, this is better than that Temu gambling website.

[Agbamoni]

In the legal profession, they call these legal loopholes lacunae. Laws cannot be perfect, that's why there will always be amendments. These prediction platforms are simply taking advantage of the loopholes in the US law. I trust that the state legislative arm might seek means to block this lacuna, or they might approach the court.

Laws may not be perfect, but they can be amended to achieve a goal, right? This is where I still call them a fool, because they can make new laws that will restrict other companies from taking advantage of the law they made. Is it not easy for them to do so?

Let them keep focusing on what's not important, rather than creating opportunities for youth in the society.