Nevis Introduces Dedicated Prediction Markets Licensing Framework
Saint Kitts and Nevis.- 3 November 2026 | www.zonadeazar.com The Nevis Online Gaming Authority (NOGA) has announced a new licensing framework for prediction markets, positioning Nevis, part of the Federation of Saint Kitts and Nevis, as a new jurisdiction for businesses offering these products.
The authorisation, known as the Nevis Prediction Market License, will be available to both B2C operators and B2B technology and service providers.
The initiative aims to establish a dedicated regulatory framework for event contracts amid the continued international expansion of prediction markets.
New Licence for Operators and Suppliers
NOGA will add the Nevis Prediction Market License to its existing authorisation framework for international gaming businesses.
The new regime covers two principal segments:
- B2C: platforms offering event contracts directly to customers.
- B2B: technology developers, infrastructure suppliers and service providers supporting prediction market operators.
The authority intends to establish requirements tailored to these activities, distinguishing them from traditional online gambling products.
Businesses will be able to apply for authorisation under the Nevis framework, although such a licence will not replace regulatory approvals required in other jurisdictions.
Sports, Politics and Finance Among Eligible Categories
The licensing framework recognises several types of prediction contracts.
Eligible categories include:
- Sports: sporting results and events.
- Economics and finance: financial and economic indicators.
- Politics: elections and political developments.
- Entertainment: outcomes associated with cultural events.
- Weather: meteorological and climate-related events.
- Cryptocurrencies: price movements and digital assets.
The licence covers both binary contracts, involving two possible outcomes, and contracts offering multiple possible outcomes.
This scope reflects the range of products NOGA intends to bring under its dedicated supervisory framework.
NOGA Introduces Integrity and Compliance Requirements
The authority has confirmed that the new regime will incorporate standards used in its existing licensing procedures.
Key requirements will include:
- Corporate due diligence: assessment of applicant businesses.
- Participant protection: safeguards for customers using prediction platforms.
- Anti-money laundering: compliance with AML obligations.
- Market integrity: controls designed to prevent abusive practices.
- Manipulation prevention: measures addressing improper interference with markets and outcomes.
These requirements are intended to establish clear operating conditions for platforms and their technology providers.
Nuri Katz Highlights the Need for Dedicated Rules
Nuri Katz, Chief Executive Officer of NOGA, explained that the development of prediction markets requires regulatory approaches suited to their specific characteristics.
He emphasised that authorities must consider how these platforms operate and the risks associated with their activities.
Katz also highlighted the objective of providing greater clarity for businesses seeking to enter the sector.
According to the executive, market integrity and participant protection will remain central to the licensing process.
Nevis Distinguishes Prediction Markets from Traditional Gambling
A central element of the initiative is NOGA’s interpretation of prediction markets.
The authority maintains that these products possess characteristics that distinguish them from traditional online gambling.
This position supports the introduction of a dedicated regulatory framework for contracts based on future events.
However, the legal classification of prediction markets remains contested internationally.
While some jurisdictions treat these products as financial instruments, others argue that certain contracts, particularly those linked to sports, may constitute gambling.
United States Faces Ongoing Regulatory Disputes
The Nevis announcement comes amid continuing disputes over prediction market regulation in the United States.
Platforms including Kalshi and Polymarket have contributed to the sector’s expansion.
At federal level, the Commodity Futures Trading Commission (CFTC) oversees certain event contracts.
However, several states have challenged the offering of sports-related contracts without compliance with state gambling legislation.
Jurisdictions involved in disputes include New York, Arizona and Utah.
These cases highlight disagreements between financial regulatory approaches and conventional gambling legislation.
Gibraltar and Europe Explore Different Approaches
The Nevis initiative forms part of a broader trend towards dedicated prediction market frameworks.
Gibraltar was among the first jurisdictions to introduce a specialised regulatory approach during 2026.
However, the European regulatory landscape remains fragmented.
While some authorities are examining ways to authorise and supervise prediction markets, other countries maintain restrictions or question whether these products comply with existing legislation.
The absence of harmonised rules creates challenges for platforms seeking to operate internationally.
Nevis Targets International Businesses
The new regime also has a commercial dimension.
Nevis already operates an online gaming licensing system serving international businesses through B2B and B2C authorisations.
Its framework restricts local residents from participating in the iGaming activities covered by that system.
Introducing dedicated prediction market licences will expand NOGA’s regulatory offering and potentially attract businesses specialising in new forms of event-based trading.
However, holding a Nevis licence will not automatically grant market access in other countries or remove obligations under their domestic laws.
Industry Impact and Next Steps
The creation of the Nevis Prediction Market License represents another development in the international regulation of prediction markets.
The framework introduces dedicated authorisations for operators and technology suppliers, alongside requirements concerning integrity, anti-money laundering and participant protection.
Its implementation will provide an opportunity to assess business interest in establishing operations under the jurisdiction.
By introducing a dedicated licence covering sports, financial, political and other event contracts, Nevis is expanding its regulatory framework and seeking to position itself as an international licensing option for prediction markets.
The initiative comes as debates continue over the legal classification and supervision of these products in the United States and Europe.
Edited by: @fonta
