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Gibraltar set to grant second prediction market license
Gibraltar has granted an approval in principle to WagerWire to legally operate a prediction market in the country.
The decision comes just two months after Gibraltar granted Predicstreet a prediction market license, making it the first operator allowed to offer event contracts locally. Authorities, including Justice Minister Nigel Feetham, have since expressed interest in expanding the prediction market sector to establish new revenue sources.
Justice Minister Feetham commented:
“A company’s experience in developing products centered on liquidity, price discovery, and consumer choice is increasingly relevant to the evolution of prediction markets. As with all applicants, our consideration is based on the strength of the proposal, the suitability of the applicant, and the ability to satisfy Gibraltar’s regulatory standards.”
The second licensee, WagerWire, shared that it’s in the process of receiving final approval to offer its service as a regulated entity in the jurisdiction. WagerWire’s parent company, Wire Industries, announced on June 10 that it plans to strengthen its international positioning in Gibraltar and later expand into other global markets.
WagerWire CEO Zach Doctor stated:
“This is a transformational opportunity for WagerWire to fully realize 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.”
Launched in 2023, the Los Angeles-based operator’s executives additionally shared that their vision aligns with Gibraltar, and they believe the market could be a strong foundation for future growth.
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