“asia's $52m election bets dodge every regulator and taxman”
Compares how the US, UK, EU, and Japan built regulatory pathways for prediction markets while Asian jurisdictions have none. Estimates South Korea forgoes up to $43M in annual tax revenue as $52M flows through offshore platforms into its election markets, and lays out three paths forward: gambling law, derivatives law, or a new third category.
Some technical background helpful
Platforms mentioned: Kalshi, Polymarket