The Nevis Online Gaming Authority (NOGA) has launched a dedicated prediction market license covering binary and multi-outcome contracts across sports, politics, financial indicators and other categories. The move positions the Caribbean territory alongside Gibraltar as one of the first jurisdictions to create a bespoke regulatory structure for the growing but contested sector.
NOGA’s new framework expands the authority’s regulatory reach to cover prediction markets, a segment that remains the subject of debate among regulators worldwide, as first reported by yogonet.com.
NOGA oversees the territory’s gambling sector. The authority prohibits local residents from participating in iGaming but allows operators to obtain business-to-consumer (B2C) and business-to-business (B2B) licenses for international operations.
What the New License Covers
The Nevis Prediction Market License covers binary and multi-outcome contracts on events involving sports, financial and economic indicators, politics and elections, entertainment, weather and climate, cryptocurrency movements and digital assets.
NOGA said it will apply its existing standards for corporate due diligence, customer protection and anti-money laundering (AML) compliance to prediction markets. According to yogonet.com, these measures are intended to protect market integrity and prevent manipulation.
“As prediction markets continue to develop, regulatory approaches need to reflect the way these platforms operate and the risks associated with their activities,” Nuri Katz, Chief Executive Officer of NOGA, said. “With this dedicated framework, our aim is to provide greater clarity for businesses entering this sector while ensuring that market integrity and participant protection remain central to the licensing process.”
Where Nevis Fits in the Regulatory Landscape
The launch adds Nevis to a small but growing list of jurisdictions establishing dedicated regulatory frameworks for prediction markets. Gibraltar introduced its own framework earlier in 2026, becoming the first jurisdiction to do so, according to yogonet.com.
NOGA considers prediction markets distinct from traditional online gambling products. That position has become a point of contention among regulators in several jurisdictions.
In the United States, prediction markets operated by companies such as Kalshi and Polymarket fall under federal oversight by the Commodity Futures Trading Commission (CFTC). This distinguishes them from state-regulated gambling products. However, this classification has faced challenges from several states, including New York, Arizona and Utah.
Utah recently filed criminal charges against Kalshi, alleging violations of the state’s gambling laws, yogonet.com reported.
Diverging Approaches Across Europe and Beyond
Regulatory approaches also differ across Europe. While Gibraltar has established a dedicated licensing framework, 11 European Union member states have taken steps to restrict prediction market operations, according to yogonet.com.
Smaller jurisdictions such as Nevis and self-governing communities like Canada’s Tobique First Nation are emerging as alternative licensing destinations for prediction market operators. These jurisdictions face less domestic political opposition, the report noted.
The Nevis framework represents an effort to balance operator access with consumer protection measures. Rather than building an entirely new compliance structure from scratch, NOGA is applying its existing AML and due diligence standards to the new license category.
