TLDR
- Gibraltar’s Minister for Justice Nigel Feetham is actively seeking to license prediction markets, with one already issued to Predictstreet in April
- Predictstreet became the official prediction market of the FIFA World Cup shortly after receiving its Gibraltar license
- A second prediction market license is expected within weeks, with more to follow
- Gibraltar already handles 80% of bets placed in the UK and hosts 54 gambling operators
- The country’s new Gambling Act of 2025 requires all existing licensees to re-apply by October under stricter rules
Gibraltar is making a direct play to become the global home of prediction markets, with the territory’s Minister for Justice Nigel Feetham leading the charge.
Feetham laid out his vision at the Consensus 2026 cryptocurrency conference in Miami, telling Gambling Insider that prediction markets represent an opportunity Gibraltar cannot afford to miss.
The British Overseas Territory issued its first prediction market license in April to Predictstreet. That company soon announced a deal as a FIFA World Cup sponsor, becoming the event’s official prediction market.
Gibraltar Already Dominates UK Gambling Infrastructure
The move into prediction markets builds on decades of gambling industry presence. Gibraltar currently handles 80% of all bets placed in the United Kingdom through servers based in the territory.
Major UK operators like bet365, William Hill, Ladbrokes, and Entain began relocating to the 6.7-square-kilometer territory back in 2001. Flutter Entertainment has since joined them.
The migration started when UK Chancellor Gordon Brown abolished the gambling tax that year. That shift moved the tax burden from bettors to companies, and Gibraltar offered lower rates.
As of late 2025, 54 operators do business from Gibraltar. That number is far smaller than Curacao, which hosts more than 600, or Malta with over 500.
But Feetham says that’s by design. He emphasized quality over quantity in his approach to licensing.
“We don’t believe in issuing licences and making up numbers by allowing just anyone to come to Gibraltar,” he said.
The territory charges a 1% tax that caps at £425,000. It also has no Value-Added Tax on marketing services or gambling-related services.
New Regulations and Global Credibility
Gibraltar faced scrutiny from global regulators in recent years. The Financial Action Task Force placed it on a gray list in 2022 over anti-money-laundering and counter-terrorism concerns.
Those concerns were addressed. The FATF removed the gray list designation in 2024. Feetham then led the effort to get Gibraltar off the European Union’s grey list in 2025.
Under the new Gambling Act of 2025, which went into law last month, all previous licensees must re-apply by October. They need to prove they meet stricter rules covering compliance, marketing, and affiliate relationships.
A second prediction market license is expected to be announced within weeks. Others are reportedly in discussions to obtain the same approval.
Feetham has been promoting Gibraltar’s case internationally, including at a recent engagement in Abu Dhabi that featured former UK Prime Minister Tony Blair.
Licensure in Gibraltar does not automatically grant legal access to every European country, especially after Brexit. But Feetham argues that holding a Gibraltar license gives companies credibility and often helps them obtain licenses in other places.
“The fact that you’re regulated and licensed in Gibraltar gives you the credibility,” he said. “It gives you access either to a market or indeed to the possibility of getting a license based on the fact that you’ve got a Gibraltar license, which is the gold standard for most other jurisdictions.”
Europe remains largely cautious on prediction markets. In the United States, they have become a politically charged topic.
Feetham said he is confident in the direction he’s taking. He described his approach as responsible and selective, following the same model that built Gibraltar’s gambling industry over the past two decades.
Gibraltar’s second prediction market licensee is expected to be announced in the coming weeks, with the new Gambling Act now in effect as of last month.
