New Zealand has declared that prediction market operators Kalshi and Polymarket, along with similar platforms, are illegal under its gambling laws because they are unauthorized operators, according to Newsroom.
Key Takeaways
- Prediction market platforms have been deemed as illegal under New Zealand’s gambling laws.
- New Zealand currently only offers online wagering on one monopolized platform.
- The decision follows Australia's, which ruled prediction markets constituted gambling.
New Zealand regulator, the Department of Internal Affairs, has stated that prediction market operators cannot offer what it considers gambling products to New Zealand residents under current laws.
“Since they aren’t authorized operators, they are prohibited from offering their gambling products to people in this country. To the extent these platforms are taking bets from New Zealand customers, they are breaching the law here and can expect to hear from us,” said Department of Internal Affairs Gambling Director, Vicki Scott, to Newsroom.
However, New Zealand does not currently geoblock gambling websites, so both Polymarket and Kalshi will remain usable until the platforms themselves choose to block New Zealand users. The Department of Internal Affairs has yet to notify both Polymarket and Kalshi of its decision, and New Zealand does not appear on either platform's blocked countries list so far.
Currently, online betting can only be accessed in New Zealand through the TAB platform, which is monopolized in the country following Entain's takeover of its day-to-day operations.
Soon, though, 15 licenses for online betting operators will be auctioned in the country following the Online Casino Gambling Bill, which is making its way through Parliament. The operators have already been called to register ahead of the launch.
However, for prediction markets and similar firms that offer sports-event contracts, it is likely that their platforms fall outside the ‘legislative net’. This was put in place when the Entain deal was made, as, under New Zealand law, online gambling is currently split into online wagering and online casinos.
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Australia defines prediction markets as gambling
While New Zealand made its opposition to prediction markets clear, it follows in the footsteps of its neighbor, Australia, which made a similar statement earlier this month, stating it considers prediction market platforms to be a form of gambling.
In documents obtained from a freedom of information request by Crikey, Australia’s gambling regulator, the Australian Communications and Media Authority (ACMA), made the decision, which is expected to have ramifications on the country's gambling industry.
Since the decision, the country has banned Polymarket from operating in Australia and ordered internet providers to block access to the prediction market platform for Australian residents.
Following the ban, ACMA found that Polymarket had not blocked Australian IP addresses, that staff members logged in to the platform and found the site did not ask them to verify their location, and that staff were allowed to place bets. Its report also found that around 1.9 million visits were made to the platform from Australia between November 2024 and May 2025.
While ACMA has decided to block the sites, this does not mean all Australians will stop accessing them, as they can still use workarounds, including VPNs.
