Background
Australia implemented significant online age verification reforms in 2025, with the Online Safety Amendment (Social Media Minimum Age) Act 2024 taking effect December 10, 2025, designating major social media platforms for age restrictions.
Under GDPR, businesses must verify each user's age and obtain parental consent for children under 16, and the UK's Age-Appropriate Design Code mandates that online services likely to be accessed by children incorporate robust age verification.
Responsible gaming and AML/KYC integration includes age verification, account limits, self-exclusion options, and AML monitoring to satisfy both gaming and financial-markets regulators.
Considerations
Prediction markets are not social networks - occupy regulatory gray area between financial derivatives and gambling, not social.
The classification affects whether child protection requirements apply and what form they should take.