The Nevis Online Gaming Authority (NOGA) has introduced a separate licensing category for prediction markets, covering both consumer-facing operators and technology providers.
The Nevis Prediction Market License launched on October 30, 2026, with application forms, licence conditions and guidance available from November 2.
The framework sits apart from NOGA’s existing B2C and B2B online gaming licences. The regulator said prediction markets can use different pricing systems, liquidity models and event-resolution methods, which require dedicated oversight.
Applications will be assessed individually based on each business model, operating structure and associated risks.
Framework Covers Multiple Event Types
The licence can apply to markets based on sports, financial and economic indicators, political and electoral events, entertainment, weather and climate, cryptocurrencies and digital assets.
NOGA also recognises different trading structures, including binary and multi-outcome markets, pari-mutuel models and market-maker arrangements, subject to regulatory approval.
The framework is available to B2C prediction market operators and B2B companies providing technology or other services.
NOGA CEO Nuri Katz said in a press release:
“As prediction markets continue to develop, regulatory approaches need to reflect the way these platforms operate and the risks associated with their activities. 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.”
Prospective applicants can approach NOGA before filing to discuss eligibility and the requirements that may apply to their proposed operations.
Rules Address Market Integrity and Settlement
The new licensing regime builds on NOGA’s existing standards for corporate due diligence, financial transparency and AML/CFT compliance.
Additional requirements focus on issues specific to prediction markets, including market manipulation, conflicts of interest and participant fund protection.
Operators must also establish clear procedures for determining outcomes and settling markets. NOGA requires reliable data sources to support event resolution and mechanisms for handling settlement disputes.
The framework is intended to give payment providers and other supporting businesses clearer regulatory guidance when working with licensed prediction market companies.
A Nevis licence does not override laws elsewhere. Operators must still meet the legal and regulatory requirements of every jurisdiction in which they offer their services.
Nevis Adds to Emerging Licensing Trend
Nevis joins a small but growing group of jurisdictions developing dedicated rules for prediction markets.
Gibraltar introduced its own prediction market framework earlier in 2026.
Other jurisdictions have taken a more restrictive approach. In the United States, prediction markets operate under federal Commodity Futures Trading Commission oversight, while several states dispute whether sports-related event contracts should also fall under state gambling laws.
New York, Arizona and Utah have taken action against prediction market operators. Utah recently filed criminal charges against Kalshi over allegations that it offered illegal gambling in the state.
Several European jurisdictions have also moved to restrict prediction market products.
Nevis has instead chosen to create a formal licensing route with requirements tailored to the structure of event-based markets.
The application process is now open for operators and service providers seeking approval under the new category.