Published on: April 1, 2026, at 10:00 AM.
Updated on: April 1, 2026, at 10:00 AM.
- Gibraltar has initiated the licensing of its inaugural prediction markets.
- Predict Street is set to become a significant prediction market centered around the 2026 FIFA World Cup.
- Gibraltar serves as a prominent hub for online gaming enterprises.
The Government of Gibraltar has taken a step forward by licensing its first prediction market, challenging the prevailing trends in the UK and European online gaming sectors.
Situated at the southernmost point of Spain, Gibraltar is a British Overseas Territory, notably recognized for its Rock of Gibraltar, an emblematic symbol of Prudential.
Gibraltar is widely acknowledged as a tax haven, bolstering the financial services, tourism, and shipping industries. Furthermore, it serves as a vital center for online gaming, hosting numerous offshore internet casinos and sportsbooks operating globally through Remote Gambling licenses issued by the Gambling Division of the Gibraltar government.
While several EU nations, such as Germany and the Netherlands, have prohibited prediction markets from operating within their jurisdictions, Gibraltar has embraced these online trading platforms. It stands as the first government in the UK and EU to grant a license to a prediction market.
Safeguarding Gibraltar’s iGaming Sector
Nigel Freeman, Gibraltar’s Minister for Justice, Trade, and Industry, disclosed on LinkedIn that a license for a prediction market has been issued. While the specific market was not disclosed, Predict Street has been added to the government’s list of sanctioned betting operators.
Predict Street, an upcoming crypto-oriented prediction market, is backed by ADI Chain, a blockchain initiative based in Abu Dhabi, and claims to be the “Official Prediction Market Partner of the FIFA World Cup 2026.”
The launch of Predict Street is scheduled for April 9, ahead of the FIFA World Cup commencing on June 11.
Freeman emphasized the importance of Gibraltar maintaining its leadership in the online betting landscape to support the territory’s economy and the tax revenues associated with gaming licensing.
“There is no room for complacency,” Freeman stated in an interview with the Gibraltar Chronicle. “We must continually adapt to the evolving global economic climate. Adapting is imperative.”
Freeman appears to believe that prediction markets could attract participants from conventional online gaming, making inaction an unviable option.
“We anticipate this will be a significant growth area for Gibraltar,” Freeman remarked.
On LinkedIn, Freeman added that venturing into prediction markets will assist in recouping some of the tax revenue losses expected due to the recent increase in the UK Gambling Duty.
Understanding Prediction Markets
Prediction markets serve as financial exchanges that enable the trading of shares linked to future events and outcomes. In the US, major players like Kalshi and Polymarket faced criticism upon launching trades around sports event outcomes last year.
Critics compare sports event trading to illicit sports betting. In response, industry leaders DraftKings and FanDuel have introduced their own prediction markets to facilitate sports contract trading in jurisdictions where traditional sports betting remains prohibited.
In the US, prediction markets are regulated by the Commodity Futures Trading Commission (CFTC). During the Trump administration, the CFTC sought to affirm the legal standing of prediction markets in sports trading. However, several bills in Congress aim to allow states to dictate the trading capabilities of prediction markets.