Aussies Bypass Ban, Bet on Middle East Conflicts
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Australians are circumventing a ban on Polymarket, a prediction market, to bet on Middle East conflicts using VPNs. The platform, which allows users to wager cryptocurrency on various outcomes, has seen surging popularity worldwide, including in Australia, with 1.88 million visits in six months. Despite lacking a local license, Australians are accessing it through forums and even asking tax offices about winnings. The platform has faced backlash, including death threats to journalists, and experts worry about insider trading due to anonymous accounts and no identity checks. Australian regulators say its illegal for the site to serve locals but okay for users to access it offshore, with betting industry leaders criticizing weak enforcement.
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