Date: 15 April 2026
Location: 10 Collyer Quay, Singapore
Format: Panel Discussion
The Digital Assets Association (DAA) and Drew & Napier LLC co-hosted a panel discussion on the regulatory, legal, and market integrity challenges surrounding prediction markets on 15 April 2026. The session brought together legal practitioners, industry operators, compliance technology providers, and digital asset professionals to examine what the rise of prediction markets means for financial regulation, consumer protection, and market integrity in Singapore and the wider Asia-Pacific region.
Held at 10 Collyer Quay, Singapore, the session attracted over 220 registrants and was conducted under the Chatham House Rule. The discussion was moderated by a DAA EXCO member and featured perspectives from legal, industry, and compliance technology experts. The Global Fintech Institute was invited to collaborate on writing the insights report through our partnership with DAA.
Key themes explored
Regulatory Classification: Gambling or Investment. The panel examined where prediction markets fall within Singapore's regulatory framework, including the Securities and Futures Act and the Gambling Control Act. The concept of "underlying things" under the SFA was identified as a key constraint, with many event contracts falling outside the current scope of regulated derivatives.
Singapore's Regulatory Landscape. The session explored Singapore's regulatory approach to prediction markets, examining existing frameworks and the question of which regulator is best positioned to act first. Potential licensing pathways and the challenge of regulatory precedent were key areas of discussion.
Licensing Pathways and the First-Mover Challenge. Potential licensing routes were discussed, including the CMS licence and regulatory sandboxes. A practical constraint was highlighted: no entity in Singapore has yet volunteered to serve as the test case for prediction market licensing.
Insider Trading and Market Surveillance. Traditional insider trading frameworks were found insufficient for prediction markets, where the definition of material non-public information is far broader. The role of surveillance technology, including on-chain analytics and cross-venue monitoring, was discussed as critical to building regulatory confidence.
AML/KYC and Compliance Readiness. Compliance challenges specific to prediction market participants were examined, drawing on lessons from recent enforcement actions and the ongoing evolution of Singapore's regulatory expectations.
Political Willingness and Regional Dynamics. The panel noted that Singapore's approach to novel regulatory questions tends to follow, rather than lead, regional peers. Developments in the US, Hong Kong, and Korea were identified as likely catalysts for Singapore's eventual regulatory action.
Recommendations for Regulators and Industry Stakeholders
- Establish a cross-agency working group to define jurisdictional boundaries for event contracts.
- Develop tiered classification criteria distinguishing event contracts by risk category.
- Create a pathway for a supervised pilot programme for a limited range of event contracts.
- Invest in surveillance infrastructure for on-chain and off-chain prediction market monitoring.
- Engage proactively with regulatory developments in the US, Hong Kong, and Korea.
- Adapt AML/KYC frameworks for prediction market participants.
Report
The full insights report, including detailed discussion synthesis, a glossary of key terms, and a summary recommendations table, is available to GFI members on the GFI portal. [Access the Full Insights Report on GFI Portal ]
About this Event Series
This panel discussion was co-hosted by the Digital Assets Association (DAA) and Drew & Napier LLC. The Global Fintech Institute prepared the insights report as an independent knowledge partner. For enquiries about GFI's insights reports or membership, contact us at [email protected].