Multiple companies have already shown interest in applying. The Gambling Control Act 2025 lets the GRA create new license types through secondary regulations, so no new primary legislation would be needed.
Peter Karimi, Director General of the GRA, said:
“The GRA views prediction markets as a form of gambling because participants are staking money on outcomes that have not yet happened.”
Existing rules already cover age verification, data access and payments, but the regulator has pointed to difficulties with cross-border platforms, crypto payments and marketing that is not monitored. It has not yet said which event types a license would cover or how oversight would work. Platforms such as 5050 Markets, EvenMarket and Spreadhit are already serving Kenyan users while the guidelines are reviewed.
Elsewhere in Africa, Liberia has introduced a prediction market framework with an $80,000 license fee and a $500,000 paid-up capital requirement, while South Africa’s bookmakers’ association has warned that unlicensed prediction markets are a regulatory blind spot.
In Kenya, the GRA’s increased licensing fees remain under legal challenge, although it has agreed to refund any amounts a court finds unlawful.
