Asia’s gambling laws squeeze crypto prediction markets
The post Asia’s gambling laws squeeze crypto prediction markets appeared on BitcoinEthereumNews.com. Asia’s ongoing repression of cryptocurrency prediction markets is channeling investment, liquidity, and innovation to Western nations that opted for regulation. In a report dated July 8, the Web3 research firm Tiger Research suggested that the characterization of prediction markets as unlawful gambling is hindering Asian countries from enjoying a thriving blockchain market. Instead of stopping demand, the legal constraints merely push users and business transactions onto international platforms and diminish consumer safety. The growth of the sphere has been fueled by crypto-native platforms like Polymarket, where trades are settled on-chain. Tiger Research estimates that the volume of trade exceeds $14 billion every month; moreover, the leaders in the industry have an overall value of $40 billion. According to the report, Prediction markets sell contracts that pay $1 if an event takes p