WagerWire Set To Become The Second Predictions Platform in Gibraltar

Gibraltar has taken another step towards becoming a major centre for prediction markets after granting approval in principle to WagerWire. 

The move comes two months after the territory welcomed its first licensed prediction market operator, ADI Predictstreet. While ADI Predictstreet was announced earlier this year, its platform only went live this week ahead of the FIFA World Cup.

With this expansion into prediction markets, WagerWire builds on an existing business model combining elements of sports betting and financial trading. The Los Angeles-based company operates a secondary marketplace for users to buy and sell previously placed wagers in a manner similar to trading financial assets.

The company plans to launch its prediction market offering under the Wire Markets brand. Subject to final approval, it will become the second licensed prediction market operator in Gibraltar.

“This is a transformational opportunity for WagerWire to fully realise our mission,” said Zach Doctor, Chief Executive Officer of WagerWire. “For years, we’ve built products that challenge the status quo by introducing greater flexibility, liquidity, and control into traditional sportsbetting, and Wire Markets represent a natural extension of that vision.”

Fragmented Global Rules Create Opportunity For Gibraltar

Prediction markets are one of the most fragmented sectors in gambling and financial regulation. While operators such as Kalshi and Polymarket have driven rapid growth since launching in 2018 and 2020 respectively, regulators take very different approaches. 

Countries including France, Belgium, Portugal, Romania and the Netherlands have adopted restrictive positions, while other jurisdictions are more open to the model. Gibraltar has chosen a different path by viewing prediction markets as part of its future economic development strategy.

“We feel a strong alignment with Gibraltar’s vision and its longstanding reputation as the gold standard in international gaming regulation,” Doctor continued.

“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.”

Competitive US Market Encourages European Expansion Plans

WagerWire’s decision to launch through Gibraltar may also reflect conditions within the United States. Although the US boasts the world’s largest prediction market, competition has intensified as major players battle for market share.

Kalshi and Polymarket dominate the sector, while companies such as Robinhood, Crypto.com, DraftKings, FanDuel and Fanatics have all entered the space. 

At the same time, legal disputes continue between prediction market operators, state regulators and the Commodity Futures Trading Commission. Against this backdrop, Europe may offer opportunities for companies seeking less crowded markets and supportive regulatory frameworks.

Government Views Prediction Markets As Part Of Future Growth

Recent tax changes and regulatory developments in key markets such as the UK have created new pressures for gambling businesses operating from Gibraltar. In response, the government has pursued legislative reforms and expanded its focus to emerging sectors.

Last week, Gambling Commissioner Andrew Lyman confirmed that Gibraltar was already progressing towards licensing a second prediction market operator following ADI Predictstreet. 

“Gibraltar has long been recognised as a leading jurisdiction for innovative and responsibly regulated gaming businesses,” Minister for Justice, Trade and Industry Nigel Feetham KC MP said. “We welcome applications from companies that prioritise transparency, compliance and technological innovation.

“WagerWire’s application is being viewed favourably at this stage, subject to the completion of the relevant due diligence, assessment processes and regulatory requirements. We look forward to continuing our engagement with the company as that process progresses.”

WagerWire has gained approval to launch its predictions platform in Gibraltar. This makes it the second platform within the country after ADI PredictStreet. The company enters a prediction market space already dominated by top brands like Kalshi, Polymarket, and Robinhood.