SABA Trade Association Urges Regulators in South Africa to Restrict Prediction Markets
The South African Bookmakers’ Association (SABA) has called for offshore prediction markets to remain outside the country’s regulated gambling sector until lawmakers establish a dedicated legal framework covering their operation. The association’s policy position follows reports that more than R700,000 was wagered through Polymarket on who would become Johannesburg’s next mayor. The platform did not hold a South African gambling licence, and the activity took place without local taxation or responsible gambling requirements. SABA argues that prediction markets function like betting […] The post SABA Trade Association Urges Regulators in South Africa to Restrict Prediction Markets appeared first on World Casino News.
The South African Bookmakers’ Association (SABA) has called for offshore prediction markets to remain outside the country’s regulated gambling sector until lawmakers establish a dedicated legal framework covering their operation. The association’s policy position follows reports that more than R700,000 was wagered through Polymarket on who would become Johannesburg’s next mayor. The platform did not hold a South African gambling licence, and the activity took place without local taxation or responsible gambling requirements. SABA argues that prediction markets function like betting […]
The post SABA Trade Association Urges Regulators in South Africa to Restrict Prediction Markets appeared first on World Casino News.
