Bishkek, November 1, 2026. The Parliament of Kyrgyzstan (Jogorku Kenesh) is advancing legislation to ban binary options as a form of gambling, restrict their advertising, and introduce criminal penalties against illegal lotteries. The bill received approval at its second-reading stage within the relevant parliamentary committee on October 27, 2026.
The initiative, promoted by the Cabinet of Ministers, headed by Adylbek Kasymaliyev, had passed its first parliamentary reading on October 7 and remains pending final approval. Kairat Mamatov, Chairman of the Financial Market Regulation and Supervision Service, operating under the Ministry of Economy and Commerce, explained that binary options involve predictions about price movements, with monetary outcomes comparable to gambling.
The proposal would prohibit organizing, marketing, and advertising these activities, recruiting Kyrgyz citizens and residents, or accepting money and virtual assets intended for participation. It would also amend the Criminal Code, the Law on Gambling Activities, and the Law on Lotteries, introducing criminal liability for organizing illegal lotteries, including those conducted through digital platforms.
The bill was presented by Deputy Minister Benazir Nurlanova, under the ministry headed by Bakyt Sydykov, and reviewed by the Committee on Finance, Budget, Entrepreneurship and Competition Development, chaired by Altynbek Kudaiberdiev.
The reform comes amid rising gambling tax revenues. According to the Ministry of Finance, headed by Ruslan Suynaliev, tax collections reached KGS 443.4 million (US$5.07 million) between January and August 2026, representing a 47.6% year-on-year increase. Land-based casinos contributed KGS 422.7 million; slot machines and simulators, KGS 13.9 million; betting operations, KGS 4 million; and online casinos, KGS 2.8 million.
The government projects annual gambling tax revenue of KGS 600 million from 2027 through 2029, compared with the KGS 500 million target for 2026. The proposed legislation also includes measures to combat fraud, money laundering, and terrorist financing. Specific fines, sanctioned platforms, and an effective date have not yet been confirmed.
