FIFA World Cup predictions partner ADI Predictstreet has laid out plans to significantly expand its product beyond the tournament’s final whistle.
The Gibraltar registered and licensed company got its football predictions platform live just a few days ahead of the FIFA World Cup, which it partnered with as an official sponsor back in April.
However, it has now confirmed that it will expand beyond football into other areas of sports predictions as the next phase of its growth strategy. It also plans to offer predictions markets on entertainment, culture, weather and ‘selected political events’.
The use of the term ‘selected political events’ is noteworthy given the controversy around current affairs and political trading, particularly on Polymarket, with trades around the US military actions in Venezuela and Iran courting controversy due to concerns around insider trading and general ethics.
ADI Predictstreet stated that it received approval to expand beyond football into other predictions following a “strong performance across its regulatory obligations – including operational resilience, consumer protection, compliance and market integrity”.
“Successfully completing this first phase with Gibraltar validates both our platform and our approach to responsible innovation,” said Dimitrios Psarrakis, Chief Executive Officer of ADI Predictstreet.
“While sport was the ideal place to introduce our prediction market platform to a global audience, our ambition has always been to build one where people can participate in forecasting the events that shape our world – from sport and entertainment to culture, weather and beyond.”
ADI Predictstreet has taken its product live across 12 US states via a deal with Fanatics, as well as in the UK via its deal with Matchbook, a betting exchange which has entered the predictions scene via a B2B platform.
The ADI Predictstreet UK domain name takes users straight to Matchbook’s platform.
As with other prediction platforms like Kalshi, Polymarket, and Crypto.com, the firm’s platform is built on blockchain technology – specifically the ADI Chain operated by the Abu Dhabi-based ADI Foundation.
A win for ADI Predictstreet and a win for Gibraltar?…
It can be assumed that the regulatory approval for ADI Predictstreet’s expansion into other prediction markets came from the territory’s Gambling Commissioner – a position which appears to be changing hands at the moment – or from another branch of the Gibraltar government.
Predictions are somewhat controversial, to say the least. Kalshi and Polymarket have both been subject to bans or blocking actions from various regulators outside their home nations of the US, including France, Belgium, Portugal and Brazil, to name a few.
ADI Predictstreet had its first regulatory struggles last week, as the German gambling regulator, the Gemeinsame Glücksspielbehörde der Länder (GGL), launched proceedings against the company over its unlicensed offering.
This news came in the same week that it announced a strategic partnership with Kalshi, something which viewers of the World Cup may have noticed via LED advertising boards surrounding the stadiums.
It will be interesting to see how much of a role Kalshi plays in ADI Predictstreet’s expansion, given that, as part of the agreement, it said Kalshi would give it a platform to scale internationally.
In contrast to other European jurisdictions like the abovementioned Germany and France, Gibraltar seems keen to welcome predictions as part of the evolution of its betting and gambling market – an important segment of the Gibraltar economy, accounting for around 25% of the British Overseas Territory’s GDP.
Like the UK’s Gambling Commission, however, Gibraltar does require predictions to hold a form of gambling licence – a Betting Intermediary Licence to be exact.
This is something that Kalshi and Polymarket would likely turn their noses up at, as the duo want to avoid any potential labelling of their products as betting, something which would undermine their legal position in the US where the duo are facing action from a number of states which see their markets and event contracts as illegal gambling.
For Gibraltar, predictions are just what the doctor ordered as the territory looks to diversify its gaming ecosystem.
The licensing of ADI Predictstreet, followed by the licensing of WagerWire’s new predictions offering, comes amid a legislative push to modernise its gambling regulations.
This is partly a response to the new tax regime in the UK, expected to hit a number of Gibraltar-based firms, the vast majority of which count Britain as a key market, particularly hard.
“When Gibraltar licensed ADI Predictstreet, we saw an opportunity to lead the development of a new regulated sector founded on innovation, integrity and consumer protection,” said Nigel Feetham, KC MP, Minister for Justice, Trade and Industry, Government of Gibraltar.
“In just a few months, that vision has gained global recognition through the FIFA World Cup and a series of landmark international partnerships.
“It demonstrates how forward-looking regulation can create entirely new markets, attract world-class businesses and reinforce Gibraltar’s position as one of the world’s leading regulatory jurisdictions.”
