"The central gambling authority of Germany's states, the GGL, released a statement last September warning Germans against using platforms like Polymarket. 'Social betting refers to events in public or social life, such as political elections, court rulings, natural disasters, societal events, or other non-sporting developments,' the authority said."
"Such formats are particularly susceptible to manipulation, as they are often based on unclear, subjective, or easily influenced events. The GGL passes on any information about illegal betting to law enforcement authorities."
Polymarket, a prediction market, is accepting bets on upcoming German regional elections, despite the legality issues in Germany. The German gambling authority has warned against using such platforms, citing risks of manipulation. While Polymarket remains accessible, transferring money from Germany is blocked. The platform has active betting markets for elections in Saxony-Anhalt, Berlin, and Mecklenburg Western-Pomerania, as well as on political events involving Friedrich Merz. The situation highlights ongoing tensions between prediction markets and regulatory frameworks in Europe.
Read at www.dw.com
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