Germany Bets on Election Outcomes Despite Legal Hurdles
Online gambling is surging in Germany, with prediction markets like Polymarket allowing bets on political events - an illegal but difficult-to-police practice.
As online gambling continues to rise in popularity across Germany, a legal gray area has emerged around the practice of using prediction markets to bet on political events. While such activities are technically illegal under German law, the decentralized nature of these platforms makes them challenging to police effectively.
Platforms like Polymarket, which allows users to speculate on the outcomes of elections and other political developments, have seen a surge of interest from German bettors. These so-called prediction markets operate by allowing participants to trade contracts that pay out based on the actual outcome of a specific event. For example, a contract might be tied to the result of a particular election, with the value of the contract fluctuating as new information and polling data becomes available.
{{IMAGE_PLACEHOLDER}}Source: Deutsche Welle
