Europe’s top regulator questions Polymarket and Kalshi’s EU access, warns of authorization gaps

60-second summary

ESMA warns that Polymarket and Kalshi could breach EU rules because their event‑contract products may be classified as binary options, falling under the bloc’s existing binary‑options ban, the MiCA crypto‑asset framework, or national gambling statutes. The regulator’s scrutiny signals tighter enforcement, prompting platforms to seek formal authorization or risk market restrictions, which could curb European crypto‑trading growth.