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

[coin-investor]

Gambling is not banned in our country, so people here can play on the new prediction market. But if gambling is prohibited in one country and it has one site where its citizens can play legally, the country can, based on its existing laws, adjust its laws to include any platform that allows its citizens to play.
Because the government understands that if they allow one platform that lets their citizen play, then the gambling ban is useless

[DiMarxist]

Gambling is not banned in our country, so people here can play on the new prediction market. But if gambling is prohibited in one country and it has one site where its citizens can play legally, the country can, based on its existing laws, adjust its laws to include any platform that allows its citizens to play.
Because the government understands that if they allow one platform that lets their citizen play, then the gambling ban is useless

If a country bans gambling but still allows even one platform to operate legally, it creates a loophole big enough to undermine the entire ban. Once citizens have any legal access point, the restriction lose the  strength, and the government knows that. And that’s why many countries that ban gambling often try to regulate every platform that touches their citizens, even foreign ones.

[Satofan44]

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 workaround is pretty bullshit. It will be patched up as soon as the gambling lobby on this weakens. Gambling is gambling, no matter in what form or shape it takes. I'm amazed how many people are applauding Polymarket and Kalshi, when they are cancer to society and foster more degenerate behavior. Well, if you don't learn the lessons in theory on why this is bad you will suffer the consequences and maybe learn your lesson then.

If a country bans gambling but still allows even one platform to operate legally, it creates a loophole big enough to undermine the entire ban. Once citizens have any legal access point, the restriction lose the  strength, and the government knows that. And that’s why many countries that ban gambling often try to regulate every platform that touches their citizens, even foreign ones.

No, it does not. Generic bullshit like that does not work. It would be as saying as long as there is 1 tax loophole, taxation laws are completely undermined. Meanwhile in reality most of the sheep are paying their taxes as they have been programmed. In this particular can it does not undermine anything. You still can't access slots or any traditional gambling that is prohibited. You can access only a new retarded form of gambling, temporarily. 

[Alphakilo]

The Binary Options and CFD Market including the cryptocurrency and NFT bets in countries like turkey, Indonesia, mainland China, UAE and some parts of southeast Asia use these platforms to hide the illegality of gambling activities acting as legal loopholes.
They instead focus on making the users and the regulators believe that their service and products meet the criteria to qualify as a financial instrument which is the loop hole that is explored and prevents penalties or prohibitions that would have normally been served to those caught contravening the illegal gambling rule.

Fortunately, gambling activities isn't banned in my country but I was thinking that the Polymarket happen to fall into this category of legal loophole that gamblers can use to place bets in countries or regions where gambling is a banned activity openly.

[Russlenat]

If a country bans gambling but still allows even one platform to operate legally, it creates a loophole big enough to undermine the entire ban. Once citizens have any legal access point, the restriction lose the  strength, and the government knows that. And that’s why many countries that ban gambling often try to regulate every platform that touches their citizens, even foreign ones.

But until that actually happens, people will keep enjoying it by finding ways around the law. This just shows bettors aren’t dumb, they’ll always find a way to do their thing. And of course the companies offering the service will lead the way, that’s just basic business principle. When you solve a problem, you earn the reward, and that’s basically what Kalshi is doing here.

[robelneo]

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.

Countries can easily categorize it as a form of gambling; they can even expand their definition of gambling to suit their preferences.
There are no loopholes in the gambling ban that they cannot fix. When they say gambling is banned, they can change the category and include what they deem risky for their citizen.
If they see their citizen will incur substantial loss, they can act on it, even with just one report, which is enough to include it.

[qwertyup23]

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.

There is a downside, however, when a country prohibits gambling. The country would be missing an opportunity to earn billions of dollars of revenue annually due to the taxes that they can levy from regulation and requirements.

I do agree that if a country absolutely prohibits gambling, it is a sign that they are well-developed and established. The fact that the country intentionally does not want to enter the gambling industry for the benefit of the welfare of their citizens is commendable.

Fortunately, gambling activities isn't banned in my country but I was thinking that the Polymarket happen to fall into this category of legal loophole that gamblers can use to place bets in countries or regions where gambling is a banned activity openly.

Wouldn't this "legal loophole" be explored by the lawmakers given them inquiry so that they can create laws in aid of legislation specifically for this topic? I believe that if you try to create a legal loophole just to bet, this would backfire immediately especially if the very essence of what you are doing is technically gambling but on paper it's investing into a financial instrument.

[Dr.Osh]

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 one of the most difficult tasks for the government to overcome. Even though there are laws regulating gambling and violators are subject to legal sanctions, huge amounts of money still flow to online casinos. Therefore, the government has made a ban on gambling detrimental to our country. It would be better for the state to accept and collect taxes from it.

[0x000369]

This is a hilarious loophole lol governments are so slow

"It's not gambling officer it's an 'investment contract' on the weather"

I'm not betting on the Lakers I'm investing in the probability of their victory haha

Zlantann and rdluffy nailed it Polymarket and Kalshi are just playing the game smarter by using federal CFTC rules against the local state rules

It's just semantics at this point

But yeah like everyone else said this is awesome for sports bettors and people who want to bet on elections but it does absolutely nothing for the rest of us The slot and dice players are still stuck using VPNs I guess You can't really make an "investment contract" on a slot spin lol what a bummer

Still a super clever move by those companies though I gotta respect the hustle

[programmer3666]

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 kind of legal loophole happens because some platforms do not call it gambling! they call it prediction or investment. but at the end of the day it is still the same thing you are risking money on an uncertain outcome even if it is allowed under certain regulations, it does not change the fact that you can still lose money just like normal gambling. people should be careful and not think it is completely safe just because it is legal

[alani123]

Many countries have already classified prediction markets as gambling and therefore platforms offering these options are not allowing users from certain jurisdictions to participate.

For instance my country was very fast to ban pokymarket. For any government it's very profitable to be in cooperation with so called licensed casinos in order to keep part of their profits. Any other form of gambling can be considered lost revenue so governments are often very aggressive against it.

[Mindyspace]

From what I see, it seems the same since you'll be trying to predict an event using money. It's best to avoid any problems because if you get caught you could be punished by the betting or prediction site, or even by the regional government.

[m2017]

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.

These "workarounds" are likely temporary, as regulators (who ban gambling in their own countries) won't allow this loophole to gamblers and will instead embrace new, industry-correcting gambling prediction markets in a new packaging. This is happening belatedly, but it will inevitably "catch up" with everyone who bets. But by then, gambling will likely find a new "incarnation in a different packaging" This cat-and-mouse game continues as long as bets are profitable.

[Israelgogo]

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.

Well, I support any country that banned gambling even in my country gambling is not legally allowed though rich men have handouts were then played gambling but to be honest I dislike gambling because I kills ones good prowess and destroyed your years of hustling, some to the extent of selling their properties in order to continue staking and gambling. Secondly sport betting as should be down people who have good understanding of football and used spare money to bet if they must because betting is betting it can still dry your pocket if care is not taking.

[Dr.Bitcoin_Strange]

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.

Oh, now I see, but regardless do you think or say it's going to dominate over all other sportbookies or you are just making reference to polymarket? If it's about Kalshi taken over the market from polymarket, it's likely going to happen but I don't think it will also dominate over all other casinos and bookies.

[blomen]

i think people are tired of ordinary betting terms and want to try crazier things. while betting types, odds, and events are completely in the hands of the betting sites we are used to, here people can proceed according to their own preferences. that's why sites like polymarket and kalshi are rising so quickly.

beyond that, these sites even let you see which way polls and political events are leaning. that's incredible because it clearly shows how much people are betting on what. i haven't used one of these yet, but i'm thinking of trying one soon.

[mirakal]

i think people are tired of ordinary betting terms and want to try crazier things. while betting types, odds, and events are completely in the hands of the betting sites we are used to, here people can proceed according to their own preferences. that's why sites like polymarket and kalshi are rising so quickly.

beyond that, these sites even let you see which way polls and political events are leaning. that's incredible because it clearly shows how much people are betting on what. i haven't used one of these yet, but i'm thinking of trying one soon.

Who’s tired? lol. We still prefer the sportsbook type, but the reason some gamblers choose platforms like Poly and Kalshi is because they can place bets without much hassle. Using a VPN is risky, but if there’s one option that feels safer, then of course we go that way.

Also with Poly, there’s no KYC needed since it’s a real decentralized prediction market, so we have that freedom to bet without worrying that our funds might get traced or that we’ll end up paying taxes or getting sanctioned for violating some law.

[KTChampions]

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 scheme works until the first trial/law enforcement claims. Perhaps in some countries the rule that if the letter of the law isn't broken, everything's fine still applies, but in most countries, this no longer applies. A court can classify your actions A as B, even if they aren't formally considered actions A. The court simply declares that the essence of your actions A is actions B, and therefore you are committing an offense.

[Sanitough]

Oh, now I see, but regardless do you think or say it's going to dominate over all other sportbookies or you are just making reference to polymarket? If it's about Kalshi taken over the market from polymarket, it's likely going to happen but I don't think it will also dominate over all other casinos and bookies.

I’m talking about beating Polymarket in terms of competition. I still believe the popular sportsbooks will stay on top, and Kalshi won’t overtake them unless they come up with something really strong, like VIP transfers or some big advantage like that. Reputation takes a long time to build, and their sports betting feature was only added recently, so they’re still at the bottom, or maybe middle at best, when it comes to competing in the sports betting industry.

[criptoevangelista]

Gambling is not banned in our country, so people here can play on the new prediction market. But if gambling is prohibited in one country and it has one site where its citizens can play legally, the country can, based on its existing laws, adjust its laws to include any platform that allows its citizens to play.
Because the government understands that if they allow one platform that lets their citizen play, then the gambling ban is useless

No matter how many prohibitions exist, it will always be a cat-and-mouse game, it will never end, because it's very easy for a casino to create a mirror of its website to attract more and more players. The ideal solution for this is taxes on casinos, because it maintains gambling and the state is happy collecting more taxes (although I am totally against this, the state interfering in people's fun).