Prediction Markets Present Major Opportunity for Gibraltar, Minister of Justice Nigel Feetham Says
While eyebrows were raised when Gibraltar licensed Predictstreet just before the upstart exchange announced a deal as a FIFA World Cup sponsor, Nigel Feetham says his country is well-positioned to take advantage of the rising prediction markets industry.
SOUTH BEACH, Fla. – Sharing a couch in the lobby of the Sagamore Hotel, sharp blue business suit and assertive red tie belying the afternoon humidity, Nigel Feetham was in a mood to discuss his big idea for Gibraltar.
That’s why he was here, after all. As Minister for Justice, Trade and Industry for the tiny British Overseas Territory at the tip of the Iberian Peninsula, the member of parliament was finishing a day at the Consensus 2026 cryptocurrency conference, explaining why he is spearheading a somewhat controversial plan at a somewhat controversial time: actively seeking to license prediction markets even as Europe remains tepid on them and they’ve become a battleground topic in the United States.
With one license already issued in April to Predictstreet – which soon became the official prediction market of the FIFA World Cup – and others inquiring about obtaining the same sanction, Feetham sees Gibraltar keenly positioned to exploit its status as a hub of the European digital economy. So far that’s entailed the insurance and traditional gambling industries of the United Kingdom. The gambling industry generates nearly a third of Gibraltar’s tax revenue.
A country of around 34,000 has its coding hands at the keyboards of those sectors, car insurance, and now, peer-to-peer exchanges drawn to a favorable economic climate now considered a regulatory model.
Update: The day after this article was published, Fanatics Markets announced partnership with Predictstreet on a FIFA World Cup Hub that includes prediction markets, tournament news, player data and other content. The Predictstreet website is not yet live as of this report.
More Prediction Market Licensees Expected
Prediction markets represent an opportunity that Gibraltar cannot squander, Feetham told Gambling Insider in an expansive exclusive interview.
“We’ve been very careful to do this, not just in gaming, but we’ve done it in other sectors as well. We would rather have quality over numbers,” he said. “So we don’t believe in issuing licences and making up numbers by allowing just anyone to come to Gibraltar and be licenced in Gibraltar.”
The announcement of a second Gibraltar-licensed prediction market is expected within weeks. Others are expected to follow, with the combination of an attractive tax rate and recent global compliance validation making Gibraltar an increasingly-attractive gambling hub. Or at least Feetham hopes – and fervently asserts in conversations, including at a recent engagement with potential partners in Abu Dhabi that included former UK Prime Minister Tony Blair.
Licensure in Gibraltar doesn’t guarantee legal access to every country on the continent – particularly in a post-Brexit Europe – but Feetham believes it will help immensely, again making the country more attractive to new enterprises.
Already, 80% of bets placed in the United Kingdom are handled by servers in Gibraltar.
“All the major gaming companies in the world are based in Gibraltar. It’s a huge ecosystem,” he said. “The fact that you’re regulated and licensed in Gibraltar gives you the credibility, and also in many cases, 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.
“I’ve got a vision. I know I’m not making a mistake. We will be selective, and we will grow this in a responsible manner, in the same way as we’ve done it in other areas.”
Gibraltar a Gambling Center, Aiming for Bigger Things
Although prediction markets remain a licensure gray area in Europe, Feetham believes that certification in Gibraltar provides a validification that companies, and these platforms, can build upon.
UK gambling operators like bet365, William Hill, Ladbrokes and Entain began migrating in 2001 to the 6.7-square kilometer BOT known for its picturesque limestone promontory. Giants like Flutter Entertainment have since joined. The reason: UK Chancellor Gordon Brown’s abolishment of the gambling tax that year shifted the burden from bettors to companies offering wagers. Gibraltar offered more amenable rates.
Global regulatory bodies were initially skeptical of Gibraltar’s regulatory regime, particularly regarding anti-money-laundering and counter-terrorism, designating it as a gray market in 2022. The Financial Action Task Force’s (FATF) was sufficiently assured of the country’s compliance efforts to remove that designation in 2024. Feetham spearheaded the removal of Gibraltar from the European Union grey list in 2025.
As of late 2025, 54 operators do business from Gibraltar, far less than Curacao (more than 600) or Malta (500+), drawn by a lesser 1% tax that caps at $425,000 GBP.
Under the Gambling Act of 2025 – which went into law last month – previous licensees must re-apply by October and prove adherence with more stringent rules that cover every aspect of the industry, including compliance, marketing, and affiliate relationships.
“Also importantly, Gibraltar has no VAT [Value-Added Tax],” Feetham said, “for marketing services or indeed any gambling related service. That is a significant advantage as well
“So the package of attractions that Gibraltar has to offer are significantly better than I would say most, if not all other jurisdictions.”
https://www.gamblinginsider.com/news/162976/prediction-markets-gibraltar-minister-of-justice-nigel-feetham