Nine European gambling authorities announced a coordinated initiative on Wednesday to regulate unlicensed prediction market platforms across the continent. The joint effort aligns with the upcoming 2026 FIFA World Cup and targets operators offering event-based betting without local licenses.
Regulatory Concerns and Consumer Protection
European regulators classify prediction markets as unlicensed gambling, contrasting with the United States where platforms are debated as financial instruments. Authorities highlighted consumer protection and market integrity risks, particularly regarding continuous platform access without mandatory wager limits or mandatory pause periods. Officials also noted insufficient age and identity verification procedures on unlicensed services, which increase exposure for younger participants. Regulators additionally advised sports federations, leagues and clubs to confirm the legal status of prediction market partners before finalizing sponsorship or commercial agreements.The regulatory bodies committed to sharing data and coordinating oversight of advertising standards and betting integrity throughout the tournament. Planned interventions include public awareness campaigns, formal warnings, financial penalties, advertising restrictions, account suspensions and service blocking. These measures specifically target companies relying on offshore or decentralized cryptocurrency licenses.
Spain’s Dirección General de Ordenación del Juego (DGOJ) implemented a temporary block on Polymarket and Kalshi last month after determining both platforms operated without required administrative licenses. Similar geoblocking procedures have been applied in other regions to restrict access to unlicensed services.