🎉 Gibraltar🇬🇧: Ministry of Justice introduces a dedicated regulatory framework for prediction markets

🎉 Gibraltar🇬🇧: Ministry of Justice introduces a dedicated regulatory framework for prediction markets

This is a complement to the new "Gambling Act 2025." The initiative introduces a dedicated regulatory framework for prediction markets.

🔣 Background: the first prediction market license was granted in April to ADI Predictstreet, under the "betting intermediary" category. With the entry into force of the new regulatory framework, that license will need to be updated to comply with the new legal requirements.

🔣 Regulatory development: the new framework is the result of extensive consultations held over recent months with industry professionals, prospective operators, and investors.

🔣 Market entry requirements:

➖ All event contracts must receive mandatory approval and certification from the Gibraltar Gambling Commissioner before they can be offered to the public.

➖ The regulator will retain the authority to restrict or prohibit certain contracts, particularly those related to criminal activity, deaths, serious injuries, terrorism, wars, or armed conflicts.

➖ Operators will be required to implement their own monitoring and compliance systems to prevent market manipulation, insider trading, and the misuse of confidential information.

🔣 Oversight: to ensure effective enforcement of the new framework, the Government has established an independent oversight committee responsible for monitoring the market and supervising compliance with the new regulatory requirements.

🔣 Next applicant: U.S.-based betting company WagerWire🇺🇸 is preparing to become the second licensed prediction market operator in Gibraltar.

👍 Authorities believe that, if successful, Gibraltar's regulatory framework could become an international benchmark for other jurisdictions seeking to regulate prediction markets.

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