The National Gaming Authority (ANJ) announces that Sorare will not be regulated as a gambling game following the evolution of its free offering.
Sorare, the popular fantasy football platform, as well as fantasy baseball and fantasy basketball, has committed to ANJ to strengthen its free offering by the end of the first quarter of 2023, while paving the way for the implementation of a regulation with specific conditions. and conditions regarding activities related to web 3.0:
During this transitional period, we are going to implement a special monitoring system for the activities of the company SORARE and will check in this regard, on the one hand, the correctness of the implementation of the solution around “free access”, and on the other hand, the compliance of this company with the goals of preventing excessive gambling and the protection of minors, the integrity and transparency of gambling operations and the fight against fraud and money laundering. The decision taken represents a necessary regulatory response to the proposal proposed by Sorare and, more generally, to the emergence of new comparable proposals in order to effectively protect the public, as well as support innovation.
Nicholas Julia, co-founder and CEO of Sorare, said:
This is a short term solution that satisfies us. There has been a request from ANJ to develop our free offering. This is in line with our long term vision, we have 90% free players now anyway. Everyone agrees that we need to create a short-term foundation for web 3.0 and web 3.0 games. I am happy to see how innovation is supported in France.
Sorare has yet to convince the British antitrust
Since October last year, the Gambling Commission has been investigating Sorare to determine whether the French company requires an operating license and whether the services provided are gambling. She defended herself by saying:
The legality of the product has been confirmed by expert legal opinions at all stages since its inception, including during several fundraisers. From our point of view, when a product with a nascent technology is successful, the attention of the authorities is normal. We expected there to be regulatory issues. However, the company will always interact and have an open dialogue with the authorities who contact us to learn more about our game. We believe this is a responsible way to develop our game and our community around the world.
📣 CP: At the request of the National Gaming Authority, SORARE undertakes to develop its gaming offering pending the adaptation of legislation.
— National Gaming Authority (@ANJ_FR) November 18, 2022