Mongolia bans betting, online gambling, paid prediction activities

The Parliament of Mongolia has banned all paid prediction, betting, and online gambling activities, following parliamentary approval of amendments to the Law on Licensing.

Under the new legislation, organizing paid prediction or betting games—whether in public spaces or online for profit—is now classified as a criminal offense, as per AkiPress. Violators face fines, 240 to 720 hours of mandatory community service, travel restrictions for six months to one year, or imprisonment for six months to three years.

The law also targets repeated use of payment accounts, electronic money, virtual assets, telecommunications numbers, or electronic identifiers under one’s own or others’ names to facilitate gambling activities. Offenders may face similar penalties to those imposed for organizing the activities.

Additionally, individuals who promote or solicit paid prediction, betting, or gambling activities will be subject to administrative penalties under the Law on Administrative Violations, including fines for illegal advertising.

As part of the legislative changes, special provisions related to excise taxes on gambling equipment, corporate and personal income tax regulations, and support for small and medium enterprises linked to these activities have been repealed.

The new laws will take effect following standard procedural requirements, according to the Media and Public Relations Department of the Parliament.

Mongolia’s latest move to further restrict betting is unlikely to surprise many international gambling companies reporting H1 results, as the market has long remained relatively untapped.

The tightening may, however, disappoint stakeholders who had hoped to see wider liberalization across Asian markets. Similar caution is evident in India, where calls for an online gaming ban are growing, and Karnataka, the country’s eighth-largest state, is moving to outlaw online betting.

Still, other countries in the region are taking contrasting approaches that point towards expansion. Thailand has considered launching casinos to boost tourism, the UAE has introduced a gambling regulator, and South Korea’s esports sector is calling for a review of betting regulations.

Mongolian authorities have also included prediction markets in the new legislation, signaling close attention to platforms like Polymarket, which has found international success and is returning to the US market.

In the United States, debate continues over whether such platforms constitute gambling, with Kalshi, a leading prediction market, facing challenges from state regulators despite federal-level discussions slowing. Several countries in Europe and Asia, including Belgium and Singapore, have declared platforms like Polymarket illegal.