Britain’s Financial Conduct Authority (FCA) is in early discussions with prediction-market companies and other market participants about easing restrictions that have limited retail access to platforms including Polymarket and Kalshi. The regulator’s April 2019 rules barred firms from selling, marketing or distributing binary options to retail consumers because of concerns about losses and product complexity. Prediction markets can resemble those products by allowing users to trade contracts tied to political, sporting and economic outcomes. UK users have continued seeking access through virtual private networks. Bernstein Research estimates cited by The Times put US prediction-market volume at about $51 billion in 2025 and roughly $240 billion in 2026, with the market potentially reaching $1 trillion by 2030. Kalshi and Polymarket are now valued at more than $20 billion, according to the report. Any UK opening would still depend on how the FCA classifies these contracts, and political or other event-based products could require approval from Britain’s gambling regulator. The companies also face regulatory disputes in the United States, where state gaming authorities have challenged their sports-related contracts.