Gibraltar licensed a company to operate in the prediction-markets sector, Justice, Trade and Industry Minister Nigel Feetham told Parliament. The government did not identify the licensee; Predict Street Ltd appeared on the official list of approved licensed operators as a betting intermediary.
The licence establishes Gibraltar as a market for prediction-market operators, while the licensee's identity remains unconfirmed by the government.
The day’s most important stories, free. One email a day.
Wire Industries, WagerWire’s parent, said it had received initial approval to operate under Gibraltar regulation, but the application remains under review. Justice, Commerce and Industry Minister Nigel Feetham said the application was progressing favourably, subject to the usual review procedures; WagerWire aims to begin licensed operations this year.
Gibraltar is considering Wire Markets Ltd’s application for an approval in principle for WagerWire’s prediction market, the company and Gibraltar minister Nigel Feetham said. The application remains subject to due diligence, assessment and regulatory requirements; the company plans to launch before the NFL season begins this autumn.
Gibraltar Justice, Trade and Industry Minister Nigel Feetham advocated moving quickly on prediction markets and licensing in a speech ahead of a visit to Consensus Miami. The report says ADI Predictstreet has received a Gibraltar licence, with other applications under way; draft tokenisation legislation is expected to be released soon.
Gibraltar Justice, Trade and Industry Minister Nigel Feetham said the jurisdiction would move early on prediction-market licensing, following the recent licensing of an operator. He said further applications were in progress and that Gibraltar expected to advance several of them; draft tokenisation legislation was also complete and expected to be published shortly.
Gibraltar granted ADI Predictstreet a gambling licence on 1 April, Justice, Trade and Industry Minister Nigel Feetham said. The platform showed no betting activity one week after its launch, while Gambling Commissioner Andrew Lyman said the application received focused scrutiny. Predictstreet CEO Dimitrios Psarrakis and money laundering reporting officer Colin Piri were not accused of wrongdoing in the reporting about their past associations.