《Lawyer Explains Legal Red Lines of Prediction Markets: Easily Involves Opening a Gambling Establishment Crime in China》Cryptocurrency legal domain lawyer Jin Jianzhi systematically analyzed the legal characterization and risks of blockchain prediction markets under different legal jurisdictions. He pointed out that the United States typically treats prediction markets as financial derivatives, while mainland China and most countries classify them as gambling. Under China's legal framework, prediction market project operators running within the country are basically equivalent to opening a gambling establishment; KOLs who promote by charging advertising fees and relevant personnel who provide payment or operational support to the platform may all be identified as accomplices in the crime of opening a gambling establishment; ordinary participants generally do not constitute criminal offenses, but in cases of large gambling stakes, they may face administrative security penalties. Combining regulatory logic and cases from mainland China and Hong Kong, Jin Jianzhi noted that sensitive topics such as politics and elections will significantly increase enforcement risk, and predicted that compliant prediction markets are unlikely to emerge in China in the short term. Read the full article:
《Lawyer Explains Legal Red Lines of Prediction Markets: Easily Involves Opening a Gambling Establishment Crime in China》Cryptocurrency legal domain lawyer Jin Jianzhi systematically analyzed the legal characterization and risks of blockchain prediction markets under different legal jurisdictions. He pointed out that the United States typically treats prediction markets as financial derivatives, while mainland China and most countries classify them as gambling. Under China's legal framework, prediction market project operators running within the country are basically equivalent to opening a gambling establishment; KOLs who promote by charging advertising fees and relevant personnel who provide payment or operational support to the platform may all be identified as accomplices in the crime of opening a gambling establishment; ordinary participants generally do not constitute criminal offenses, but in cases of large gambling stakes, they may face administrative security penalties. Combining regulatory logic and cases from mainland China and Hong Kong, Jin Jianzhi noted that sensitive topics such as politics and elections will significantly increase enforcement risk, and predicted that compliant prediction markets are unlikely to emerge in China in the short term. Read the full article: