Even as Parliament advances a bill to auction 15 online casino licenses, the market remains limited to a single online wagering monopoly. New Zealand has declared Kalshi and Polymarket illegal under existing gambling laws.
Currently, online wagering in New Zealand is available only through the TAB platform. It operates under a monopoly arrangement following Entain’s takeover of its day-to-day operations.
The Online Casino Gambling Bill is creating its way by Parliament at the same time. The legislation provides for the auction of 15 online casino licenses. Authorities have already invited operators to register ahead of the planned launch.
New Zealand’s existing law divides online gambling into two categories. These two categories are online wagering and online casinos. When the Entain deal was reached, this structure was put in place.
The Department of Internal Affairs (DIA) has determined that prediction market operators, including Kalshi and Polymarket, are unauthorized. As a result, they are illegal under current gambling legislation.
According to DIA, prediction market operators cannot offer what it considers gambling products to New Zealand residents under existing laws.
Vicki Scott, Department of Internal Affairs Gambling Director, said that since they aren’t authorized operators, they are restricted from offering their gambling products to people in this country. To the extend these platforms are taking bets from New Zealand customers, they are breaching the law here and can expect to hear from them.
According to the regulator, it has not yet notified Polymarket or Kalshi of its decision. Currently, New Zealand does not geoblock gambling websites. Moreover, the country does not appear on either list of restricted jurisdictions of platform. In result to this, both platforms remain accessible unless they independently restrict New Zealand users.
Their platforms are likely to fall outside the existing legislative framework for prediction markets and similar firms offering sports-event contracts.
