The start of the 2026 FIFA World Cup has prompted a coordinated response from nine European gambling regulators, who have announced closer cooperation to address the growth of unlicensed prediction market platforms.
Authorities from Belgium, France, Germany, Italy, the Netherlands, Poland, Portugal, Spain and Switzerland issued a joint statement outlining concerns about platforms that allow users to speculate on sports, political and geopolitical events. The regulators said the tournament is likely to generate increased betting activity and place additional focus on prediction markets, which have gained popularity in recent years, particularly among younger adults.
Regulators Increase Oversight During Tournament
The regulators described prediction markets as platforms that often operate around the clock and, in jurisdictions where they lack licences, may not provide safeguards commonly required in regulated gambling markets.
Officials warned that constant accessibility, strong online visibility and social-sharing dynamics can contribute to gambling-related harm.
The joint initiative includes greater information-sharing between regulators, closer monitoring of advertising practices and betting integrity measures, as well as stronger enforcement efforts. Authorities stated that they would take action against operators that fail to comply with local regulations and would expand social media campaigns promoting safer gambling.
The statement also urged sports federations, leagues and teams to verify whether prediction market operators are legally authorised within their jurisdictions before entering commercial agreements or sponsorship arrangements.
Different Regulatory Approaches Around the World
While regulators in Europe generally classify prediction markets as gambling products requiring local authorisation, debate continues elsewhere. In the United States, policymakers and regulators remain divided over whether these products should be treated as gambling activities or financial instruments.
The issue has become more prominent as prediction market companies expand internationally. Some governments view the contracts as a form of betting, while others consider them closer to securities or derivatives products.
“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, an investor in Opinion Labs. “The recent bans mean the category has become important enough to regulate.”
Chris Holland, partner at consulting firm HM Strategy, also pointed to concerns created by regulatory gaps. “Betting isn’t new,” he said. “What’s new is the structure.” He added: “That gap is an open invitation to insiders.”
Enforcement Actions Expand Across Jurisdictions
Several countries have already moved against major operators. Spain temporarily blocked access to Polymarket and Kalshi after determining they were offering services without the licences required under national gambling rules. France and the Netherlands have implemented similar geoblocking measures.
Outside Europe, countries including India, Indonesia and Brazil have also increased restrictions. Brazil shut down 27 prediction platforms in April, including Kalshi, shortly after the company entered the market.
Despite regulatory pressure, the sector continues to grow, with strong World Cup trading activity reported by market participants. Governments face challenges in enforcing restrictions because many platforms operate across borders and can be accessed through cryptocurrencies and virtual private networks. Nevertheless, regulators appear increasingly determined to bring prediction markets under clearer oversight.
Source:
“Joint Statement by gambling regulators of Belgium, France, Germany, Italy, the Netherlands, Poland, Portugal, Spain and Switzerland”, jamma.it, June 2026
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