Nine European Regulators Target Unlicensed Prediction Markets

Nine European gambling regulators have launched a joint campaign against unlicensed prediction market platforms.

Authorities from Belgium, France, Germany, Italy, the Netherlands, Poland, Portugal, Spain and Switzerland agreed to strengthen cooperation during and after the 2026 FIFA World Cup.

Prediction markets allow users to bet on future events, including sports, politics and other public outcomes. In Europe, many regulators treat these platforms as gambling services rather than financial products.

The authorities raised concerns about round-the-clock access, weak age checks and the lack of mandatory betting limits or cooling-off periods. They believe these problems may increase gambling risks, especially for younger users.

The regulators also warned sports clubs, leagues and federations to check whether prediction market partners hold valid local licences before signing sponsorship deals.

The joint action may include formal warnings, fines, advertising restrictions, account freezes and service blocking. Regulators will also share more information and monitor advertising and betting integrity.

Spain has already ordered temporary blocks on Polymarket and Kalshi because the platforms did not hold the licences required under Spanish gambling law. France and the Netherlands have taken similar action.

Prediction markets have grown quickly because of cryptocurrency, social media and trading-style features. Some platforms offer markets far beyond traditional sports betting, which can make the difference between gambling and financial speculation less clear.

However, Europe does not have one common approach. Gibraltar recently licensed ADI Predictstreet, while Malta is also considering the sector.

Malta’s economy minister Silvio Schembri said:

The country is actively exploring prediction markets because they may offer new opportunities for innovation.