"Lawyer Explains Legal Red Lines of Prediction Markets: Easily Suspects Opening Gambling Establishment Crime in China" - Jin Jianzhi, a lawyer in the cryptocurrency legal field, systematically analyzed the legal characterization and risks of blockchain prediction markets under different legal jurisdictions. He pointed out that the United States generally views prediction markets as financial derivatives, while mainland China and most countries classify them as gambling. Under the Chinese legal framework, prediction market project parties operating domestically are basically equivalent to opening a gambling establishment; KOLs who collect advertising fees for promotion and relevant personnel who provide payment or operational support for platforms can all potentially be identified as accomplices in the crime of opening a gambling establishment; ordinary participants generally do not constitute criminal conduct, but in cases of large gambling amounts, they may face administrative penalties for public security management violations. Jin Jianzhi combined the regulatory logic and cases of mainland China and Hong Kong to illustrate that sensitive topics such as politics and elections will significantly increase enforcement risks, and concluded that it is difficult for compliant prediction markets to emerge in China in the short term. Read the full article: