European Regulators Unite Over Prediction Markets

A group of nine European gambling regulators has announced a coordinated effort to increase oversight of prediction market platforms during the 2026 FIFA World Cup, citing concerns about consumer protection, market integrity and regulatory compliance.

Authorities from Belgium, France, Germany, Italy, the Netherlands, Poland, Portugal, Spain and Switzerland issued a joint statement as betting activity is expected to rise during one of the world's largest sporting events. The regulators said prediction markets have expanded rapidly in recent years and have become particularly popular among younger adults.

Regulators Raise Concerns Over Prediction Markets

Prediction market platforms allow users to speculate on the outcomes of sporting, political and geopolitical events. Regulators warned that many operate without local gambling licences and often lack safeguards commonly required in regulated markets.

According to the joint statement, unlicensed platforms may offer continuous access, limited age-verification procedures and no mandatory betting or time limits. Regulators also highlighted concerns involving fraud, insider information, financial volatility and potential illegality.

The announcement comes as several countries have already taken enforcement action. Spain recently ordered a temporary block on Polymarket and Kalshi after determining that both platforms were operating without required licences. Similar geoblocking measures have also been implemented in France and the Netherlands.

World Cup Intensifies Regulatory Debate

The World Cup marks the first edition of the tournament since prediction markets gained significant international attention. The rapid growth of these platforms has intensified debate over whether they should be treated as gambling products or financial instruments.

Some jurisdictions regulate prediction contracts under gambling laws, while others argue they belong within securities or derivatives frameworks. The uncertainty has allowed operators to expand across borders while regulators work to establish appropriate oversight.

“Prediction markets are entering the same phase every novel financial primitive eventually enters: first hobbyist market, then mass attraction, then legitimacy fights,” said Dovey Wan, founding partner of Primitive Ventures. “The recent bans mean the category has become important enough to regulate.”

Chris Holland, partner at HM Strategy, also highlighted regulatory concerns.

“Betting isn’t new,” he said. “What’s new is the structure.”

Because many contracts are classified as derivatives, Holland added that they often sit outside traditional gambling licensing systems. “That gap is an open invitation to insiders.”

Increased Cooperation Planned

The nine regulators said they will strengthen cross-border cooperation throughout the tournament and beyond. Planned measures include sharing information, exchanging expertise, monitoring advertising activity and overseeing betting integrity protections.

The authorities also pledged to act against platforms that fail to comply with local regulations. Potential actions may include warnings, sanctions, service blocking, advertising restrictions and account freezes.

In their statement, regulators urged sports federations, leagues and clubs to verify the legal status of prediction market companies before entering sponsorship or commercial agreements.

They also said they intend to expand safer gambling messaging through social media campaigns during the tournament as part of broader consumer protection efforts.

Source:

"Joint Statement by gambling regulators of Belgium, France, Germany, Italy, the Netherlands, Poland, Portugal, Spain and Switzerland", jamma.it. June 2026