The license was granted to Predict Street Ltd. According to Gibraltar’s gambling license registry, the company was registered as a betting intermediary on March 26, 2026, under the Gambling Act of 2005. The new gambling law has not yet come into effect in the territory, so the license had to be issued under the old legislation. According to the minister, this is the fastest regulatory approval in Gibraltar’s history.
The Predictstreet.io platform has declared itself the official prediction partner for the 2026 FIFA World Cup. The website displays a countdown to the launch on April 9. The platform’s technological foundation is provided by ADI Chain, a blockchain provider based in Abu Dhabi.
Why This Happened Now
The licence was granted against a backdrop of significant pressure on Gibraltar’s gambling sector. On 1 April 2026, an increase in the Remote Gaming Duty from 21% to 40% came into force in the UK. Most operators based in Gibraltar serve UK players, so the increased tax burden affects them directly. It’s estimated that the total effective tax rate for Gibraltar-based companies could rise to 80-100%.
The gambling industry accounts for around a third of Gibraltar’s tax revenue and creates around 3,500 direct jobs. Back in December 2025, Fittem described the situation regarding UK taxes as a matter of vital importance for the territory.
According to the minister, this is precisely why he personally took charge of promoting Gibraltar’s regulatory proposal following the introduction of the UK tax changes. He described the licensing of prediction markets as a promising area for growth.
Europe is moving in different directions
Gibraltar has taken the lead in Europe. Malta has also stated that it’s exploring the possibility of establishing a regulatory framework for prediction markets. On 26 March, Malta’s Minister for the Economy, Silvio Schembri, announced that the country is actively examining this area, but that any changes would require a “clear legislative framework”.
At the other end of the spectrum are Germany and the Netherlands, where strict bans on non-standard betting products are in place. Polymarket is blocked in both countries. The Dutch regulator, the KSA, has already fined the platform for operating without a licence.
Ismail Vali, president of regtech firm Gaming Compliance International, says that despite official bans, traffic and engagement data shows European users are still accessing prediction markets.
What’s happening around the world
In the USA, prediction markets are growing rapidly, but state authorities are increasingly cracking down on them. A court in Nevada has temporarily banned Kalshi from operating in the state. Arizona has gone even further and brought criminal proceedings against the platform. Meanwhile, the federal regulator, the CFTC, generally sides with the operators.
For Gibraltar, this licence solves two problems at once. Firstly, it helps to diversify the territory’s gambling industry at a time when changes to UK tax laws have hit traditional operators. Secondly, Gibraltar has filled a niche that no one else in Europe has yet occupied. Just how much potential this holds will be revealed by how Predict Street performs in its role as a partner for the 2026 World Cup.
