Did you know? Gibraltar has just approved its first prediction market operator, a first in Europe. This operator, named Predict Street, even claims to be the official prediction market partner for the 2026 FIFA World Cup. Nigel Feetham, Gibraltar's Minister for Justice, Trade, and Industry, announced this news in parliament, stating that this will be an important growth area locally. It was revealed that although the new "Gambling Act" has not yet taken effect, licenses have been issued quickly under the old law, setting a "record speed" for regulatory licensing.
New Policy Background: Responding to UK Tax Pressure, Gibraltar Seeks Change
Why is Gibraltar so proactive? There are very real pressures behind this. In recent years, the UK has increased the tax on remote gambling, severely impacting Gibraltar's gambling industry, which primarily serves the UK market. It is estimated that the new tax rate could skyrocket local operators' tax burden to 80% to 100%. It's important to note that the gambling industry creates about 3,500 direct jobs in Gibraltar and contributes about one-third of the tax revenue. The minister openly stated that this is crucial for public revenue. Therefore, venturing into new businesses like prediction markets has become a natural choice for local survival and development.
Europe's Mixed Attitudes: Gibraltar Leads, Germany, France, and the Netherlands Remain Conservative
While Gibraltar has taken the lead, the attitudes of other European countries are much more complex. On the same day, Malta also announced that it is studying the establishment of a regulatory framework for prediction markets, stating that it needs "clear, forward-looking legislation" to support its responsible, scalable development. However, Germany and the Netherlands have strict restrictions on novel practices in sports betting, while France and the Netherlands generally consider prediction markets to be illegal gambling or unlicensed financial instruments, and have already blocked the industry leader Polymarket. Interestingly, Ismail Vali, president of RegTech company GCI, pointed out that despite official bans, traffic data shows that prediction markets still attract European users.
The Future of Prediction Markets: Challenges and Opportunities Coexist
The platform of Predict Street is supported by Abu Dhabi's blockchain provider ADI Chain, and its website has already started the countdown to the 2026 World Cup, expected to officially launch on April 9. Gibraltar's move not only showcases its flexible regulatory capabilities but may also serve as a reference for other small jurisdictions. However, prediction markets in the US are currently facing strict scrutiny by state regulators, and in Europe, balancing innovation with consumer protection remains a major challenge. If you want to keep up with the latest global gambling regulatory trends, consider visiting the PASA official website more often, where you can find deeper industry analysis and policy interpretation.
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This article is from "PASA-Global iGaming Leaders," a gambling industry news channel:https://t.me/pasa_news
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PASA official website: https://www.pasa.news
