The United Kingdom’s gambling watchdog is investigating Sorare, a fantasy soccer platform that uses non-fungible tokens (NFTs).
The platform is not licensed by the UK Gambling Commission, according to a consumer information notice issued by the regulator. “This means that any activity carried out on the site by consumers in the United Kingdom is in violation of the gambling regulations that a licensed operator must follow,” the notice stated.
The regulator also revealed that it is currently “carrying out inquiries” into the company to see if its services fall under the jurisdiction of the Gambling Commission.
“The Gambling Commission is currently carrying out enquiries into the company to establish whether Sorare.com requires an operating licence or whether the services it provides do not constitute gambling,” said the notice.