Prediction markets look set to rival traditional betting in Bulgaria, with the first deal to launch such an offer locally now officially a fact.
Local online operator inbet has entered into an agreement with Predikto, a B2B predictions infrastructure supplier, to leverage its tech stack and power its own proprietary platform that allows for betting on random events.
The integration will bring customers in Bulgaria new real-time betting opportunities, powered by dynamic and event-driven mechanics, with Predikto providing inbet with the underlying technology, pricing and risk-management capabilities needed to deliver real-time data feeds and event-based betting products at scale.
The offer will operate within the scope of inbet’s active online licence under Bulgaria’s gambling framework.
While the exact nature of the events on offer is still unclear, SBC News understands that this will be the first instance of a predictions-like platform being launched on Bulgarian soil by an operator regulated by the local authority.
Overall, inbet’s delivery of such a product proves that there is a licensing route for anyone looking to launch a Polymarket-style platform in the Eastern European country, which so far has remained relatively untapped in terms of similar offers.
Stark contrast in licensing routes
Bulgaria’s Gambling Act already includes an existing statutory category that lists “games with betting on random events and betting related to knowledge of facts” as a licensable online offer – with this now happening in practice through inbet and Predikto.
However, applicants still need to be mainly licensed as a gambling operator that happens to offer event contracts rather than going for a specific prediction markets licence, as a separate route does not currently exist.
The reception to predictions has been a little more frosty in Europe than in the US – though it’s not been all fun and games in the latter either as various state regulators are involved in litigation with Kalshi, Polymarket, or both.
Many European countries have restricted access unless predictions platforms gain regulatory approval – which generally requires them to gain the same license as traditional gambling companies.
Gibraltar is the only territory in Europe that offers a standalone prediction markets regulatory framework, launched earlier this year.
ADI Predictstreet – official predictions partner of the FIFA World Cup – is the only platform currently licensed under the new provisions, while WagerWire has been approved in principle but is yet to be fully licensed by Gibraltar authorities.