Google Bans Prediction Market Ads in Connecticut, Bringing Total to Five States

Google has updated its ad policy regarding prediction market platforms. Now, it's a standalone category alongside gambling and financial services, and ads for these platforms are prohibited in Connecticut. 

These changes came earlier this month, and the former is a prediction-market advertising rule in effect since January. 

Prediction market platforms have lost many court rulings, including in the Ninth Circuit and Sixth Circuit. However, it did win in the Third Circuit, leading New Jersey to petition the Supreme Court. The policy language has been in place since January, and it has this to say about prediction market platforms before listing a list of criteria: “... inherent complexities, speculative nature, and unique regulatory classification."

Google Requires Licensing and Certification for Prediction Market Ads

Then, here are those criteria: 

• The advertiser is a licensed Prediction Market provider that holds all applicable local financial, commodity, and/or gaming licenses, including those required as part of Google’s certification process.
• The products and ads comply with all local laws, financial regulations, industry standards and all other Google Ads Policies. Advertisers are expected to do their own research on the local regulations for any location their ads target and comply with these.
• The targeted location is eligible for certification for advertising under this policy.
• The account has received certification and approval from Google to run ads about these products.

Below is a list of prohibited content: 

• Binary options and fixed-return contracts
• Online gambling
• Information or educational sites and blogs

Some examples, per Google, include the following: 

• Trading signals, tips or speculative trading information
• Affiliate sites containing related content or broker reviews

Connecticut Joins Four States Prohibiting Prediction Market Ads

Five states are excluded from prediction market ads: Connecticut, Michigan, Nevada, New York, and Ohio. Nevada was the first state; Ohio came in June; Michigan and New York in July; and now Connecticut as of October 7.