TLDR The UK has launched an independent review of the Gambling Act 2005. Prediction markets, crypto and AI are among the products under review. The commission will study the line between gambling and financial activity. Betting and gaming duties raised £3.9 billion in the 2025/26 financial year. The call for evidence closes February 12, 2027, with a final report due in 2028.
Prediction markets and cryptocurrencies are now part of a formal UK review that could reshape how the country defines gambling. The newly formed Gambling Policy Commission will examine whether products that sit between betting and financial activity still fit under the Gambling Act 2005.
The independent review was announced this week. It will test whether the law, passed more than 20 years ago, is still fit for purpose or whether a new framework is needed.
The commission will look at artificial intelligence, crypto and gambling-like features in digital products. A final report is expected in 2028.
Prediction Markets Put Pressure on Old Rules
Will Hutton, president of the Academy of Social Sciences, said the growth of prediction markets shows how new technology is challenging existing regulation. “Everything from consumer protection to appropriate tax policies need urgent review,” Hutton said.
The commission will study the boundaries between gambling and financial activity. This includes products that operate across both sectors.
Professor Jagjit Chadha, an economist at the University of Cambridge, chairs the commission. Professor James Reade of the University of Reading serves as chief economist.
Chadha said the last full independent review of gambling law took place about 25 years ago. “Since then, both the gambling market and the wider technological environment have changed considerably,” he said.
UK law rethink
A new commission will test if the 2005 Act can handle crypto and prediction