1 00:00:01,000 --> 00:00:04,080 Speaker 1: Ever do for z Ellen our nineteen past five now 2 00:00:04,160 --> 00:00:07,440 Speaker 1: authorities have ruled that poly Market and call Sheet are 3 00:00:07,440 --> 00:00:10,400 Speaker 1: illegal under New Zealand's gambling laws. Now these are international 4 00:00:10,400 --> 00:00:12,880 Speaker 1: gambling websites where you can best on just about anything, 5 00:00:13,280 --> 00:00:16,080 Speaker 1: and punters on poly Market have collectively bet one hundred 6 00:00:16,120 --> 00:00:19,959 Speaker 1: and fifty thousand dollars on tomorrow's ocr decision by the 7 00:00:19,960 --> 00:00:23,000 Speaker 1: Reserve Bank. Vicky Scott is the DIA Director of Gambling 8 00:00:23,000 --> 00:00:26,320 Speaker 1: and with US high VICKI Hi Heaver. Why is it illegal? 9 00:00:28,280 --> 00:00:31,200 Speaker 2: Look, it pretty clearly meets the definition of gambling and 10 00:00:31,240 --> 00:00:34,960 Speaker 2: the Gambling Act, which is defined pretty broadly as paying 11 00:00:35,040 --> 00:00:38,040 Speaker 2: or staking consideration on the outcome of something when you're 12 00:00:38,080 --> 00:00:41,000 Speaker 2: seeking to win money, and when that outcome depends wholly 13 00:00:41,080 --> 00:00:46,000 Speaker 2: or partly on chance. With that aside from the legal definition, 14 00:00:46,440 --> 00:00:49,960 Speaker 2: the features of these sorts of bets are akin to 15 00:00:50,640 --> 00:00:53,680 Speaker 2: any other kind of sports or novelty betting that you 16 00:00:53,760 --> 00:00:58,000 Speaker 2: see out there. There's where sort of other jurisdictions have 17 00:00:58,040 --> 00:01:02,959 Speaker 2: recently come to the same conclusion Australia recently and more 18 00:01:03,000 --> 00:01:05,800 Speaker 2: recently the UK, and we've taken a look at it 19 00:01:05,840 --> 00:01:08,200 Speaker 2: against our legal framework and it's it's pretty clear that 20 00:01:08,200 --> 00:01:09,120 Speaker 2: it meets the definition. 21 00:01:09,440 --> 00:01:10,479 Speaker 1: Are you going to shut it down? 22 00:01:11,800 --> 00:01:15,600 Speaker 2: Yeah? So actually we wrote to both Kolshi and Polymarket 23 00:01:15,720 --> 00:01:19,200 Speaker 2: yesterday explaining our view that it's clearly in breach of 24 00:01:19,240 --> 00:01:21,680 Speaker 2: our law and requesting their immediate removal from the New 25 00:01:21,760 --> 00:01:24,360 Speaker 2: Zealand market. And it looks it appears as though they 26 00:01:24,400 --> 00:01:28,600 Speaker 2: have now GEO blocked. So account holders have had a 27 00:01:28,640 --> 00:01:31,759 Speaker 2: message I understand that says that they can no longer 28 00:01:31,760 --> 00:01:34,280 Speaker 2: access their account. They can still withdraw funds, but they 29 00:01:34,319 --> 00:01:38,080 Speaker 2: can't use them to place bets. And the polymarket website 30 00:01:38,520 --> 00:01:39,760 Speaker 2: appears to be unavailable. 31 00:01:39,880 --> 00:01:40,920 Speaker 1: Are you looking at it right now? 32 00:01:40,959 --> 00:01:41,280 Speaker 2: To key? 33 00:01:41,840 --> 00:01:43,720 Speaker 1: Am I hearing you reach over to c if you 34 00:01:44,319 --> 00:01:44,679 Speaker 1: if you. 35 00:01:44,600 --> 00:01:46,840 Speaker 2: Can get to look at it before I left the 36 00:01:46,880 --> 00:01:49,680 Speaker 2: office that I haven't checked it in the time it 37 00:01:49,680 --> 00:01:50,600 Speaker 2: took me to drive home. 38 00:01:51,360 --> 00:01:54,800 Speaker 1: When did they cut us off at some point today? 39 00:01:54,880 --> 00:01:58,440 Speaker 2: So it was almost immediate response to our correspondent. 40 00:01:58,560 --> 00:02:00,480 Speaker 1: That's surprised you because I would have thought that if 41 00:02:00,480 --> 00:02:02,560 Speaker 1: they I mean, because really you actually couldn't do very 42 00:02:02,600 --> 00:02:04,200 Speaker 1: much right, So I would have thought they would know 43 00:02:04,200 --> 00:02:06,040 Speaker 1: that and just be like, nah, come for us. Does 44 00:02:06,080 --> 00:02:07,520 Speaker 1: it surprise you that to actually shut. 45 00:02:07,360 --> 00:02:12,640 Speaker 2: It down obviously enforcing against these overseas companies is always tricky. 46 00:02:13,240 --> 00:02:15,840 Speaker 2: The fact that they aren't arguing the toss about whether 47 00:02:15,919 --> 00:02:17,920 Speaker 2: or not the products are gambling suggests to me that 48 00:02:17,960 --> 00:02:19,720 Speaker 2: they know they're playing in a grade space and a 49 00:02:19,760 --> 00:02:22,959 Speaker 2: lot of these market Yeah, and you know, New Zealand 50 00:02:23,000 --> 00:02:25,880 Speaker 2: isn't the biggest market out there. So sometimes what we find, 51 00:02:25,919 --> 00:02:27,839 Speaker 2: because we've been taking the same approach when we write 52 00:02:27,880 --> 00:02:31,400 Speaker 2: to betting operators who are operating a breach here, sometimes 53 00:02:31,560 --> 00:02:33,680 Speaker 2: the New Zealand market's not really even on their radar. 54 00:02:34,720 --> 00:02:38,280 Speaker 1: And so the Vicky, I just I'm on polymarket dot com. 55 00:02:38,280 --> 00:02:39,280 Speaker 1: Should I be able to do that? 56 00:02:42,720 --> 00:02:45,240 Speaker 2: If you can access the website, that's not a breach, 57 00:02:45,240 --> 00:02:46,919 Speaker 2: it's the actual placing of it. 58 00:02:46,960 --> 00:02:49,799 Speaker 1: Oh, I see, So most people should be able to 59 00:02:49,840 --> 00:02:51,400 Speaker 1: go on the website, they just can't actually bet on it. 60 00:02:52,200 --> 00:02:54,240 Speaker 2: Yeah, that's what would require them to do is actually 61 00:02:54,320 --> 00:02:57,360 Speaker 2: GEO a block the betting services from New Zealanders. So 62 00:02:57,400 --> 00:02:59,720 Speaker 2: I understand that how she's done that. We're still doing 63 00:02:59,720 --> 00:03:04,400 Speaker 2: some thing obviously because it's all happened pretty quickly. But 64 00:03:04,919 --> 00:03:06,720 Speaker 2: I'm hoping that Polly Market will follow suit. 65 00:03:07,760 --> 00:03:10,280 Speaker 1: Thank you, Vicky, I appreciate it. Vicky Scott Department of 66 00:03:10,280 --> 00:03:13,720 Speaker 1: Internal Affairs, Director of Gambling. Do you want to see 67 00:03:13,720 --> 00:03:16,640 Speaker 1: what they're betting on? Apart from the OCR I would 68 00:03:16,639 --> 00:03:19,120 Speaker 1: have thought the OC is an obvious one. What are 69 00:03:19,160 --> 00:03:22,000 Speaker 1: you betting on? It's a hold tomorrow, isn't it anything else? 70 00:03:22,000 --> 00:03:25,000 Speaker 1: Seems like you're wasting your money. Another bet, the US 71 00:03:25,040 --> 00:03:28,840 Speaker 1: will strike a round by Sunday is paying eleven dollars eleven. 72 00:03:29,960 --> 00:03:32,760 Speaker 1: Jeffrey Epstein will be confirmed to be alive by the 73 00:03:32,880 --> 00:03:36,280 Speaker 1: end of this year is paying eighteen dollars. The next 74 00:03:36,320 --> 00:03:39,280 Speaker 1: grand Theft auto game will cost more than one hundred dollars. 75 00:03:39,400 --> 00:03:42,640 Speaker 1: US is paying two hundred dollars, so that's a good return. 76 00:03:43,160 --> 00:03:45,280 Speaker 1: Jesus Christ will return by the end of this year 77 00:03:45,360 --> 00:03:48,880 Speaker 1: is only paying twenty seven. It's only paying twenty seven dollars. 78 00:03:49,440 --> 00:03:51,360 Speaker 1: Doesn't feel like I feel like the odds are funny 79 00:03:51,360 --> 00:03:54,600 Speaker 1: on that one. What do you think? For more from 80 00:03:54,680 --> 00:03:57,760 Speaker 1: Heather Duplessy Allen Drive, Listen live to news talks. 81 00:03:57,760 --> 00:03:59,680 Speaker 2: It'd be from four pm weekdays. 82 00:04:00,040 --> 00:04:02,040 Speaker 1: Follow the podcast on iHeartRadio.