If you're trading prediction markets from Manchester or Edinburgh, you've probably wondered the obvious thing: is this even allowed?
The short answer is yes — but the long answer is worth knowing, because it changes how you choose a platform and how you protect your stake.
What "Prediction Market" Means to a UK Regulator
The UK Gambling Commission doesn't have a category called "prediction markets." What it does have is a definition of betting: staking money on the outcome of an uncertain event. Most prediction markets fall under that umbrella, which means platforms serving UK customers need a Gambling Commission licence — same as any sportsbook or casino.
The relevant licence types are "Real-event betting" and, for platforms that pool stakes between users, "Betting intermediary." Both are well-trodden categories. None of this is new ground.
Where the Confusion Starts
Some prediction markets in the US (Kalshi, for example) operate under CFTC rules as derivatives exchanges, not as gambling. The UK has no equivalent treatment. There is no "event derivatives" licence here. If you're a UK resident trading on a US-only platform, you're probably outside its terms of service — and your funds may be unprotected if anything goes wrong.
Rule of thumb: if it doesn't have a UK Gambling Commission number printed in the footer, it's not regulated to serve you.
Polymarket and the UK
Polymarket is geo-blocked from the UK. That's not because the UK banned it — it's because Polymarket isn't licensed here. Using a VPN to access it breaches their ToS and means any winnings sit on a platform with no UK consumer protection. Most experienced UK traders don't bother.
What This Means for You
Use platforms that are explicitly licensed for UK customers, or that publish a clear regulatory status. Verify your identity (KYC) the same way you would with a UK bank — that's a feature, not a hassle, because it's what triggers the consumer protections you actually want.
Boromarket is built UK-first with that exact framework in mind. The licensing, the safer-gambling tools, the dispute resolution path — all the boring infrastructure that makes a prediction market actually trustworthy.
"Regulation isn't there to spoil the fun. It's there to make sure your account still exists tomorrow."
— Boromarket