Gibraltar Expands Economic Diversification with Prediction Market License

Gibraltar has taken a bold step towards diversifying its economy by licensing its first prediction market operator, Predict Street Ltd. This move is seen as a strategic effort to mitigate the impact of recent UK gambling tax hikes on the territory's revenue.

Predict Street, which utilizes blockchain technology, plans to leverage the 2026 FIFA World Cup as a marketing opportunity to attract users and investors. The company aims to demonstrate the potential of prediction markets in generating new revenue streams for Gibraltar.