Predictstreet’s World Cup Gambit: A Gibraltar License, a FIFA Badge, and a US Launch in Record Time
In the space of two months, a prediction-market brand most fans had never heard of went from a fresh license in a small British territory to a logo on the FIFA World Cup and a live U.S. launch across 23 states.
ADI Predictstreet achieved something unique when it became the official prediction market of the FIFA World Cup 2026. It attached its brand to the world’s biggest sporting event while operating in a category that more than a dozen U.S. states are actively challenging or attempting to restrict.
The license that made it possible came from Gibraltar rather than any jurisdiction hosting World Cup matches. Gibraltar, a British Overseas Territory at the southern tip of Spain, covers just 2.6 square miles and has a population of fewer than 45,000 people.
The speed of the process captured the industry’s attention. ADI Predictstreet received its Gibraltar license in April. Within weeks, ADI Predictstreet announced a multi-year deal with FIFA, becoming the first-ever official partner in the prediction market category. By late May, it had secured a U.S. distribution partner.
The final step came on May 27 when Fanatics Markets, the prediction market subsidiary of the sports merchandise giant, launched a co-branded FIFA World Cup 2026 Hub. The partnership made those markets available across 23 U.S. states and four territories.
The progression from licensing to a FIFA partnership and a U.S. launch happened unusually quickly by gambling industry standards. That is a notable example of regulatory engineering.
The product is entering the U.S. market without being classified as traditional sports betting, and before courts have definitively ruled on whether prediction markets fall under federal commodities law, state gambling law, or some combination of both.
Why This is Happening Now
The World Cup represents one of the biggest commercial opportunities in global gambling, helping explain why companies are racing to establish a position ahead of the tournament.
In 2022, Barclays estimated that about $35 billion would be wagered globally on the 2022 tournament in Qatar. That represented a 65% increase from the 2018 tournament. Analysts expect that figure to climb to $50 billion in 2026.
The growth potential is especially significant in the U.S.
The 2022 World Cup marked the first edition of the tournament held after the expansion of legal U.S. sports betting. The American Gaming Association projected that roughly 20.5 million adult Americans would bet around $1.8 billion on it at that time. That looked modest compared to the $7.6 billion they put on that year’s Super Bowl.
However, the trajectory has steepened since then. Gambling industry consultants Eilers & Krejcik project that the 2026 tournament could generate more than $4 billion in U.S. betting handle.
Part of that increase comes from the tournament itself expanding from 64 matches to 104 matches with the introduction of 48 teams. More games create more betting markets, more live wagering opportunities, and a longer overall engagement cycle.
The 2026 tournament will also be the first World Cup hosted in North America since 1994. Moreover, prediction markets have emerged as a rapidly growing category during the past year.
How the World Cup Hub Reached the US
With the deal announced on May 27, ADI Predictstreet supplies the World Cup brand, the FIFA tie-in, and official statistical data through its Gibraltar license. Fanatics Markets supplies the U.S.-facing platform and customer distribution through its existing app ecosystem.
However, Fanatics Markets does not operate the exchange infrastructure directly. Instead, the contracts are listed through Crypto.com’s CFTC-regulated exchange, while Fanatics provides consumer distribution through its platform.
As a result, U.S. users accessing the World Cup Hub will participate through a federally regulated derivatives framework rather than through a state-licensed sportsbook.
That distinction helps explain why the product can operate in states such as Texas, California, and Florida, where the current online sportsbook structure is either nonexistent or monopolized.
Fanatics, along with FanDuel and DraftKings, have previously indicated that expanding into states outside the conventional sportsbook map is a key part of their broader growth strategy.
A Category That Won’t Sit Still
Prediction markets like Kalshi and Polymarket argue that they operate as federally regulated financial instruments, with the Commodities Futures Trading Commission (CFTC) overseeing them.
The federal agency has also intensified its legal efforts to defend that framework, challenging state enforcement actions in several jurisdictions. State regulators and attorneys general, meanwhile, have argued that the products closely resemble sports betting and should therefore be subject to state gambling laws.
The sector’s rapid growth has intensified that conflict. Kalshi’s global monthly trading volume reached $14.8 billion in April 2026. At the same time, the company’s valuation has risen to $22 billion.
Litigation involving prediction markets has expanded across multiple jurisdictions. The CFTC has sued multiple states, including Arizona, Connecticut, Illinois, New York, Wisconsin, and Rhode Island, challenging their enforcement actions against prediction market platforms.
The conflict took a new turn recently, as Minnesota enacted the country’s first outright state ban, with the law taking effect on August 1. This led the federal agency and Kalshi to separately sue the state.
Courts have been split so far on the topic. Some, such as in Nevada, Maryland, and Ohio, have ruled in favor of state officials, while others, such as the Third Circuit and Arizona, have sided with the CFTC or operators. Industry observers increasingly point to the matter ultimately reaching the Supreme Court.
That uncertainty forms the broader backdrop to ADI Predictstreet’s U.S. launch and FIFA partnership.
Why Gibraltar Moved Quickly
The speed of ADI Predictstreet’s licensing process raised questions about why Gibraltar was willing to move so quickly. For officials in the territory, the answer lies in a broader economic strategy focused on attracting growth and innovation.
Speaking to Gambling Insider, Minister of Justice, Trade, and Industry, Nigel Feetham, said the licensing decision came to him, not a regulator.
I can act as quickly as I wish to act for the purposes of advancing the macroeconomic interests of Gibraltar,” Feetham said.
He contrasted that approach with financial regulators, whom he described as typically “adverse to decisions regarding innovation.”
The speed of the approval process has drawn scrutiny, particularly because the FIFA partnership emerged shortly after the license was granted.
Feetham rejected criticism of the process. He said that the license decision wasn’t “a decision that was taken on the back of a cigarette packet.”
According to Feetham, Gibraltar’s strategy focuses on “quality over numbers.”
Gibraltar had a roster of 54 licensees at the end of 2025 compared to 600+ in Curacao and 500+ in Malta.
Economic pressure is also a part of the equation. Gibraltar currently serves about 80% of the wagers placed in the U.K. However, recent U.K. gambling tax increases are likely to affect the territory’s revenues.
Feetham said that his ministry “regrouped” and committed to focusing on growth to cover the shortfall, with speed to market as a key tool to achieve this goal.
Fans who open the World Cup Hub this summer are unlikely to think about Gibraltar’s role in the product’s path to market. For the companies involved, however, the stakes are massive when the tournament kicks off on June 11.
https://www.gamblinginsider.com/news/163636/predictstreet-world-cup-gibraltar-fifa-partnership