The Nevis Online Gaming Authority (NOGA) has launched a dedicated licensing framework for prediction markets, establishing a category separate from its existing online gaming arrangements.
Introduced on 30 October and announced on 2 November, the framework covers both business-to-consumer prediction market operators and business-to-business technology and service providers.
Its scope includes markets relating to sports, financial and economic indicators, elections, entertainment, weather, cryptocurrencies and digital assets.
NOGA said binary and multi-outcome markets, pari-mutuel structures and market-maker arrangements could be accommodated, subject to regulatory approval.
Eligibility and permitted activities will be assessed individually against applicants’ business models, operational structures and associated risks.
The authority said dedicated oversight was needed because prediction markets can differ from conventional online gaming in their pricing, liquidity, participant interactions and methods for determining outcomes.
Requirements address market integrity, manipulation prevention, conflicts of interest and safeguards for participant funds. They also cover reliable outcome data, transparent settlement procedures and processes for resolving settlement disputes.
These provisions build on NOGA’s standards for corporate due diligence, financial transparency, anti-money laundering and counter-terrorist financing compliance, and customer protection.
Commenting on the move, CEO Nuri Katz stated: "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."
NOGA said application forms, detailed conditions and supporting guidance are available on its website. Prospective applicants are encouraged to discuss eligibility and proposed business models with the authority before applying.
The launch follows Katz’s July interview with Global Gaming Insider outlining Nevis’s licensing model, in which he said the Government retains authority over licence decisions while a management company supports administration and compliance.
Elsewhere, Kenya’s regulator is considering a dedicated prediction market category but has not published application terms or a launch date.
A Nevis licence remains subject to the laws and regulatory requirements of each jurisdiction where services are offered
