Gibraltar Grants Europe’s First License for a Prediction Market Platform

^{Pictured: Nigel Feetham, Gibraltar’s Minister for Justice, Trade and Industry}

Authorities in Gibraltar have granted Europe’s first licence to a prediction markets operator, Justice, Trade and Industry Minister Nigel Feetham told parliament, according to Your Gibraltar TV.

The licence was issued to Predict Street Ltd. Feetham said the decision had been made in “record time” for the territory’s regulator.

The Predictstreet.io platform is scheduled to launch on April 9. Its technology partner is Abu Dhabi-based blockchain firm ADI Chain.

Feetham said the government expects strong growth in the prediction markets segment and that the fast-tracked licensing process was intended to protect Gibraltar’s economic interests and avoid delays in the sector’s development.

He added that the government has intensified efforts to promote the jurisdiction internationally, including participation in industry conferences and talks with potential licensees.

Gambling is a key pillar of Gibraltar’s economy, accounting for around 30% of GDP, employing about 3,500 people and generating roughly one-third of total tax revenue.

Earlier, Gambling Park reported that authorities in Malta are considering a legal framework to regulate prediction market platforms.