Robinhood Markets Inc. is in discussions with overseas regulators about expanding its fast-growing prediction markets business outside the United States.

In coverage initially published by Bloomberg, JB Mackenzie, Robinhood’s vice president of futures and international, said the firm has held talks with the UK’s Financial Conduct Authority (FCA) on how such contracts would be treated under local law. In the US, prediction markets are regulated by the Commodity Futures Trading Commission (CFTC) as swap products, while in Europe they are often classified as gambling.

“We’re definitely looking to offer it globally, and my goal or focus is to make sure it’s a…

Read more on Blockworks