Good Morning. Despite their growing popularity internationally, prediction markets remain illegal in the Philippines due to existing gambling laws that classify any betting on outcomes involving chance as gambling, legal expert Marie Quiogue described. Still, future reforms could create a legal pathway for prediction markets if new legislation is introduced. Meanwhile, analysts noted that Las Vegas Sands’ strong third-quarter results were largely driven by Marina Bay Sands’ growth, while Macau operations are recovering, suggesting a positive outlook for its Asian gaming business. In the Philippines, PAGCOR Chairman Alejandro H. Tengco emphasized that integrated resorts and casinos are essential for the Philippines’ tourism and economic recovery, serving as vibrant lifestyle hubs that promote growth and job creation.
What you need to know
- Prediction markets are surging worldwide, but remain squarely illegal in the Philippines; future reforms could create a legal pathway, advises a legal expert.
- Las Vegas Sands strong performance was led by its flagship Marina Bay Sands in Singapore, with analysts saying its Macau operations are showing clearer signs of recovery.
- Integrated resorts and casinos are vital to the Philippines’ tourism and economic recovery, PAGCOR Chairman Alejandro H. Tengco highlighted.
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AGB Intelligence
PHILIPPINES
Philippines’ gambling laws block prediction markets despite global growth
Prediction markets are gaining popularity globally, allowing users to bet on real-world event outcomes, but they remain illegal in the Philippines due to current gambling laws, according to gaming law expert Marie Antonette ‘Tonet’ Quiogue. While international trading volumes in prediction markets have surged past $2 billion, platforms like Polymarket and Kalshi are unlicensed in the Philippines, as the Philippine Amusement and Gaming Corporation (PAGCOR) has not authorized any such operation.
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