Nevis carves out a dedicated prediction market license, priced well below its standard iGaming permit

The license is built to cover a wide spread of markets: sports outcomes, political and electoral events, financial and economic indicators, entertainment, weather and climate, and cryptocurrency and digital asset movements. NOGA says it recognizes binary and multi-outcome contracts, pari-mutuel models, and market-maker arrangements, with each applicant’s scope assessed individually rather than approved as a blanket category.

The pricing sets this license apart from Nevis’s standard offering. A prediction market license costs EUR 18,000 as a one-time setup fee, roughly $20,200 at current exchange rates, with the same amount due annually to renew it. That’s a good deal cheaper than NOGA’s standard iGaming license, which runs EUR 28,000, about $31,400, for the same setup-and-renewal structure, a gap that could make Nevis an attractive entry point specifically for operators focused on prediction markets rather than traditional online gambling, the same calculus that has already drawn platforms toward other newly licensed venues like Mori.win.

NOGA says the new category builds on standards it already applies across its licensing book: corporate due diligence, financial transparency, anti-money laundering and counter-terrorist financing compliance, and customer protection. On top of that baseline, the framework adds requirements aimed specifically at how prediction markets function, covering market manipulation prevention, conflicts of interest, and transparency around how and when events get resolved, along with safeguards for participant funds and defined dispute mechanisms for contested or delayed settlements.

NOGA CEO Nuri Katz framed the move as an attempt to give prediction market businesses clearer rules to build against, treating the category as something distinct from conventional online gambling rather than folding it into the existing iGaming license. That classification question, whether prediction markets count as gambling or something else entirely, remains unsettled and contested among regulators more broadly, a debate playing out in parallel through moves like the NBA’s own CFTC-backed partnership with Kalshi and Polymarket. Nevis joins a short list of jurisdictions, Gibraltar introduced its own framework earlier in 2026, that have chosen to answer it by building a separate licensing lane rather than forcing these platforms through rules written for sportsbooks and casinos.