ESMA flags growing prediction markets risks, but can they be policed?

Prediction markets have grown rapidly. Platforms like Polymarket and Kalshi have evolved into multi-billion-dollar businesses, and traditional exchanges – Eurex, Euronext, CME Group, CBOE, ICE and Nasdaq – are increasingly active in the space. These exchanges are using prediction markets data to add analytical value, generating real-time signals on market

In ESMA’s