Despite initial skepticism surrounding Gibraltar's decision to license Predictstreet just before it became a FIFA World Cup sponsor, Nigel Feetham believes his territory is uniquely positioned to capitalize on the burgeoning prediction markets sector.
At the Consensus 2026 cryptocurrency conference in South Beach, Florida, Feetham, who serves as the Minister for Justice, Trade, and Industry, articulated his vision for Gibraltar's future. He is advocating for a somewhat contentious initiative: actively pursuing licenses for prediction markets at a time when Europe is still hesitant about them, and they are a hot-button issue in the United States.
With the first license granted to Predictstreet in April, which quickly became the official prediction market for the FIFA World Cup, Feetham sees Gibraltar as a prime location to leverage its status as a center for the European digital economy. The territory has traditionally supported the insurance and gambling sectors, which contribute nearly one-third of its tax income.
Feetham emphasized that Gibraltar must not overlook the potential of prediction markets. In an exclusive interview with Gambling Insider, he stated, “We’ve been very careful to do this, not just in gaming, but we’ve done it in other sectors as well. We would rather have quality over numbers.”
He anticipates that a second prediction market licensed in Gibraltar will be announced soon, with more to follow. The combination of an appealing tax environment and recent global compliance recognition is making Gibraltar an increasingly desirable hub for gambling operations. Feetham is optimistic about this trajectory, having recently engaged with potential partners in Abu Dhabi, including former UK Prime Minister Tony Blair.
While obtaining a license in Gibraltar does not automatically grant access to all European markets, particularly in the post-Brexit landscape, Feetham is confident it will significantly enhance Gibraltar's appeal to new businesses.
Currently, 80% of bets placed in the UK are processed through servers located in Gibraltar. “All the major gaming companies in the world are based in Gibraltar. It’s a huge ecosystem,” he remarked. “Being regulated and licensed in Gibraltar provides credibility and often opens doors to markets or the possibility of obtaining licenses in other jurisdictions.”
Feetham concluded with a clear vision for Gibraltar's future in the prediction market space, asserting, “I know I’m not making a mistake. We will be selective, and we will grow this in a responsible manner, just as we have in other sectors.”