Second prediction market platform set for approval in Gibraltar
Gibraltar has granted an “approval in principle” to WagerWire operator Wire Industries.
Gibraltar.- Just two months after the first approval of a gambling licence for a prediction market operator in Gibraltar, another company looks set to gain a stamp of approval from the territory’s regulator. Wire Industries Inc, the parent company of WagerWire, says it has received an “approval in principle” to operate as a regulated entity within the jurisdiction.
The company, which was founded in Los Angeles, develops technology that enables market-style betting on sports. It launched a secondary marketplace for online wagers in 2023, allowing users to trade active sportsbook bets.
WagerWire says it plans to launch under a Gibraltar licence later this year to coincide with the start of the NFL and international football seasons. It intends to use Gibraltar as an international base, seeing the jurisdiction as a “springboard for global growth” that will “support future expansion into other jurisdictions globally..
CEO Zach Doctor said: “This is a transformational opportunity for WagerWire to fully realise our mission. For years, we’ve built products that challenge the status quo by introducing greater flexibility, liquidity, and control into traditional sports betting, and Wire Markets represents a natural extension of that vision.”
Nigel Feetham, the Minister for Justice, Trade and Industry of Gibraltar, commented: “Gibraltar has long been recognised as a leading jurisdiction for innovative and responsibly regulated gaming businesses. We welcome applications from companies that prioritise transparency, compliance and technological innovation. WagerWire’s application is being viewed favourably at this stage, subject to the completion of the relevant due diligence, assessment processes and regulatory requirements. We look forward to continuing our engagement with the company as that process progresses.”
Gibraltar’s authorisation of gambling licences for prediction platforms
In April, ADI Predictstreet, a platform ultimately owned by the Abu Dhabi Royal Family, received a gambling licence in Gibraltar in what was a European first for a prediction platform. It launched its offering this week ahead of the FIFA World Cup 2026, with Abu Dhabi-based blockchain provider ADI Chain reportedly providing the platform’s tech.
ADI Predictstreet has a deal with FIFA naming it “Official Prediction Market Partner of the FIFA World Cup 2026”. It has also announced deals with DAZN and Fanatics Markets. This has all caused consternation among those international regulators that see prediction markets as unregulated gambling. It also led to suggestions that Gibraltar had rushed through the operator’s gambling licence approval in time for the World Cup.
Minister for Justice, Trade and Industry, Nigel Feetham, has promoted Gibraltar’s welcoming of prediction platforms as part of its efforts to find new revenue sources to offset the potential impact of the rise in UK gaming taxes on its igaming sector. However, Gibraltar Gambling Commissioner Andrew Lyman has insisted that a due diligence process was followed before approving the licence.
Lyman described the controversy around the company as “sensationalist” media reporting and that the processing time for gambling licence applications in Gibraltar typically takes “weeks not months”.
He said there was “concentrated focus on the progression of this licence because of the need to license before the run up to the FIFA World Cup, but speed does not mean lack of scrutiny (in fact there was a lot of focussed scrutiny).”
He said he had recommended confirming the licence approval before the company’s announcement of a deal with FIFA, which came a day afterwards. The licence was initially granted under Gibraltar’s 2005 Gambling Act and then “grandfathered” under the 2025 Act a few days later.
Asked about the impact of the publicity around ADI Predictstreet, he said: “The licensing of Predictstreet has created a lot of excitement in the business community and a lot of interest in Gibraltar as a place to license gambling or gambling derivative models. We only see negativity from journalists looking naturally for a sensationalist angle in what is a newsworthy and hotly debated area.”
He added that “Being associated with a previous publicly reported “controversy” does not necessarily lead to a conclusion of a lack of fitness and propriety or unsuitability, albeit I respect the right of journalists to speculate within the boundaries of the law of defamation.”
Gibraltar’s move comes shortly after confirmation of work to evaluate the possible regulation of prediction platforms in Malta, another major hub for online gambling in Europe. Economy Minister Silvio Schembri said the country was considering the creation of a dedicated regulatory framework for the sector in a bid to resolve the question of whether the format should be considered as gambling or financial. He described the sector as having strong global momentum and significant potential for innovation.
