WagerWire is gearing up to enter the prediction markets arena in Gibraltar following the receipt of "approval in principle" from the local regulatory body, Wire Industries Inc, its parent company, announced.
This approval enables Wire Markets Ltd, a subsidiary of WagerWire, to establish a regulated prediction markets operator in Gibraltar, a significant milestone in the company's global expansion plans, as reported by iGaming Business.
Gibraltar's Minister for Justice, Trade, and Industry, Nigel Feetham, has previously expressed aspirations for the region to be among the first in Europe to officially license prediction markets. He stated, "Gibraltar has long served as a gateway for innovative gaming businesses seeking to operate on an international stage," during discussions with IGB.
Feetham emphasized the potential of WagerWire, noting, "In WagerWire, we see a company with ambitions that extend well beyond a single market and a team that understands the importance of building within a robust regulatory framework. We look forward to continuing our engagement with the company through this process."
In its announcement, the company indicated that the "approval in principle" positions it to expand its prediction markets business globally, with Gibraltar serving as a regulatory and operational hub. The initial product launch is expected later this year, coinciding with the kickoff of the NFL season and the international football calendar.
Founded in Los Angeles, WagerWire has concentrated on developing market-based sports betting tools. Since its inception in 2023, the firm has introduced one of the first secondary marketplaces for online sports wagering, enabling users to trade active sportsbook positions.
CEO Zach Doctor referred to the Gibraltar approval as a "transformational opportunity," positioning prediction markets as a natural progression of the company's existing offerings that emphasize liquidity and flexibility in betting environments.
He remarked, "We feel a strong alignment with Gibraltar’s vision and its longstanding reputation as the gold standard in international gaming regulation. The jurisdiction’s commitment to thoughtful innovation creates a powerful foundation for growth, and we’re excited about the opportunity to build from Gibraltar as we pursue a global vision for the future of prediction markets."
Gibraltar has taken an early initiative in regulating prediction markets, becoming the first European jurisdiction to directly license this sector. In March, it awarded its first prediction markets license to ADI Predictstreet, which is the official prediction market partner for the 2026 FIFA World Cup.
Conversely, other European regulators have adopted a more cautious approach, with countries like France, Germany, and the Netherlands restricting access to prominent prediction market platforms such as Polymarket.
Gibraltar Gambling Commissioner Andrew Lyman has previously stated that the jurisdiction possesses the flexibility to adapt its regulations as the sector develops. He noted, "[This] does not rule out the development of a bespoke prediction market regulatory regime that is neither ‘gambling’ nor ‘financial services.’"