The Department of Internal Affairs says sites such as Polymarket and Kalshi come under national gambling rules.
New Zealand.- The New Zealand Department of Internal Affairs has said that prediction market platforms, including Polymarket and Kalshi, are illegal under the country’s existing gambling legislation. It said it considers users of such platforms to be engaging in gambling rather than trading financial instruments, meaning that any operator not authorised under New Zealand law is prohibited from offering the products to residents.
Gambling director Vicki Scott said platforms taking bets from New Zealand customers would be in breach of the law and could face regulatory action.
Prediction markets allow users to speculate on the outcomes of future events, ranging from sports results to political and economic developments. Despite operating as peer-to-peer trading platforms and framing offerings as event-based derivatives, the DIA concluded that their core function aligns with gambling.
The DIA indicated it intends to formally notify Polymarket and Kalshi of its position, although neither platform actively markets to New Zealand users or pre-populates registration details for the country. However, they were not geoblocking their sites, meaning the services were technically accessible. Kalshi has added New Zealand to its list of blocked jurisdictions following the regulatory clarification.
Under the current legal framework, online wagering in New Zealand is limited to the state-backed TAB platform, which operates under a monopoly arrangement following Entain’s takeover of its day-to-day operations. Meanwhile, online casinos are expected to be formally regulated through forthcoming legislation, with 15 licences set to be auctioned once the Online Casino Gambling Bill progresses through Parliament.
New Zealand’s stance mirrors recent developments in neighbouring Australia, where the communications regulator concluded that prediction markets constitute gambling activity and ordered internet service providers to block access to certain platforms. Regulators in both jurisdictions argue that the services do not function as traditional financial risk-management tools or investments, but rather as speculative wagering on future outcomes.
The Department of Internal Affairs says sites such as Polymarket and Kalshi come under national gambling rules. New Zealand.- The New Zealand Department of Internal Affairs has said that prediction market platforms, including Polymarket and Kalshi, are illegal under the country’s existing gambling legislation. It said it considers users of such platforms to be engaging…
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