Finance or gambling? Prediction-market players push for regulatory clarity in Asia

Fintech industry executives have stepped up lobbying for clearer regulations regarding prediction markets as they attempt to distance the business from gambling and also play down its risks.

The calls, made at Thursday’s iFX Expo Asia in Hong Kong, come as regulators and legal experts in the city and across Asia debate whether such platforms should be regulated as financial products or as a form of gambling.

“There is so much uncertainty,” said Nicholas Baumer, chief commercial officer of the...