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Gibraltar Licenses First Prediction Markets Operator Amid Gambling Shift

admin — Tue, 07 Apr 2026 17:49:08 +0000

Gibraltar has taken a notable step toward reshaping its digital economy, issuing its first-ever license to a prediction markets operator amid pressure on its core online gambling sector.

Authorities approved the license for Predict Street Ltd on March 26, formally adding the company to the territory’s register of betting intermediaries. The move was announced in parliament by Justice, Trade and Industry Minister Nigel Feetham, who framed it as part of a broader strategy to modernize Gibraltar’s regulatory framework and reduce reliance on traditional gaming revenues.

While Gibraltar is in the process of overhauling its gambling laws, officials processed the application under existing legislation. A more comprehensive reform bill, designed to strengthen oversight and bring the jurisdiction in line with evolving global standards, has yet to come into force.

Fast-tracked approval draws attention

The pace of the approval caught lawmakers’ attention, with Feetham highlighting what he described as an unusually quick regulatory turnaround.

We expect this to be a substantial area of growth for Gibraltar,” he said during the parliamentary session, calling the approval a case of “record timing” for a license of this kind.

The speed signals a sense of urgency within government. Gibraltar is moving aggressively to position itself at the forefront of emerging digital sectors, particularly as uncertainty clouds its traditional revenue streams.

Mounting pressure on a gambling-dependent economy

For years, Gibraltar has leaned heavily on online gambling, which accounts for roughly one-third of government revenue and supports a significant share of local employment.

But that model is facing strain. Rising gambling duties in the United Kingdom, a key market for Gibraltar-based operators, have driven up costs and squeezed margins. The changes have forced companies to reassess their operations and raised broader concerns about the territory’s long-term economic stability.

In response, policymakers have begun actively seeking new growth areas. Feetham has taken a more visible, hands-on role in promoting Gibraltar as a competitive regulatory hub, particularly for emerging technologies.

“We are working relentlessly to protect Gibraltar’s economic interests,” he said in a separate statement, underscoring the government’s proactive stance.

A strategic push into prediction markets

Prediction markets allow users to trade on the outcomes of real-world events, blurring the line between financial instruments and traditional betting products. That hybrid nature has made them difficult to classify, leaving regulators worldwide divided. By licensing Predict Street, Gibraltar is positioning itself among the first European jurisdictions to formally embrace the sector.

Elsewhere, the approach has been far more cautious. Regulators in countries such as Germany, France, and the Netherlands have restricted or blocked prediction market platforms, reflecting ongoing uncertainty about how to regulate them.

Global regulatory tensions intensify

The debate over prediction markets is also heating up globally.

In the United States, the Commodity Futures Trading Commission has recently sued three states (Arizona, Connecticut, and Illinois), marking a new chapter in the ongoing debate over prediction markets and who should regulate them.

At the same time, some states are exploring clearer regulatory frameworks. Iowa, for example, has advanced legislation aimed at defining and potentially permitting certain types of prediction market activity. Meanwhile, tribal gaming groups have voiced concerns about federal encroachment into areas traditionally governed by state and tribal authorities.

Predict Street eyes a global opportunity

Predict Street operates as a crypto-based platform backed by Abu Dhabi blockchain firm ADI Chain. The company is targeting a public launch on April 9 and has already begun onboarding early users.

It is also leaning heavily into sports marketing, branding itself as the “Official Prediction Market Partner” of the FIFA World Cup 2026 in an effort to capture global attention ahead of the tournament.

Still, significant hurdles remain. Access to major markets such as the UK could prove challenging if regulators ultimately classify prediction markets as gambling products, subjecting them to stricter rules and higher compliance costs.

A calculated risk for a changing industry

For Gibraltar, the decision to license Predict Street reflects a calculated bet on the future of digital finance and gaming.

The move underscores a broader shift. Rather than waiting for global regulatory consensus, the territory is choosing to act early and shape its own position in a fast-evolving market. Whether that strategy pays off will depend largely on how other regulators respond and whether prediction markets can secure a stable footing within the global regulatory landscape.

Featured image: Berthold Werner, CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0, via Wikimedia Commons

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Malta Gaming Authority warns users about false gaming licenses claims

admin — Sun, 02 Nov 2025 11:01:14 +0000

The Malta Gaming Authority (MGA) has warned consumers about false claims about gambling licenses.

The MGA has published a notice, warning consumers about a list of sites claiming to have connections with the authority or false licenses from it. The organization has emphasized that any reference to the MGA or gaming licences said to be issued by the MGA from the listed websites is “false and misleading”.

The websites in question are:

immediate-connect.co.uk
pangagames.com
casino1bet.online
palmsbet1.com
flexiblesport.com
casino-europa.eu

Any links or claims to licenses from the MGA should be discounted from any of the above sites. That likely means they are operating gambling services in the country illegally.

“The MGA would like to remind consumers not to utilise services provided by an entity unless they have ascertained that the entity in question is authorised to provide such services by the MGA,” reads the statement from the gambling authority. “The gaming regulatory framework obliges authorised persons to comply with strict legal requirements in the interest of consumers.

“The activities of unlicensed entities are unregulated and do not provide the necessary safeguards delineated by virtue of the framework, making transactions with such entities risky for consumers.”

The MGA has also shared a list of licensed entities for consumers to browse here.

This comes after we reported on the Filipino online casino PHLove, which claimed it was licensed by the Maltese authority. The MGA said in a press release that it had “no connection” to the site, along with the usual warnings you see about unlicensed operators.

Malta’s regulator denied links to PHLove. Credit: PHLove / MGA

But when we looked through each commission’s public lists and databases, we couldn’t find any evidence that PHLove was licensed by any of them. After our report, the Philippines based watchdog PAGCOR said it had begun investigating the site. Despite this, at the time of writing, the site continues to claim that it is licensed by the authorities.

PHLove promotes itself as regulated by several international gaming authorities. Credit: PHLove

Why is it important to use licensed operators?

Gamblers should always take every step possible to ensure they’re using licensed operators to protect both themselves and others. Illegal gambling operators don’t have to take the same regulatory steps to protect users from gambling-related harm, or to safeguard any funds they’re holding for users.

This can leave gamblers vulnerable to theft, fraud, or any number of connected crimes. It could also result in the loss of personal information or financial data in some cases.

ReadWrite has reached out to the MGA for comment.

Featured image: Wikimedia Commons, licensed under CC BY-SA 4.0

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MGM Resorts and Genting are the first to move forward with New York casino licenses

admin — Sun, 28 Sep 2025 17:26:38 +0000

MGM Resorts and Genting are the first operators to move forward with downstate New York casino license applications.

With the latest being that casino applicants in New York might not hear about updates until early next year, MGM Resorts and Genting are now the first operators to move forward to the next stage of the process. Both have received approval from their respective Community Advisory Committees on Thursday.

The two operators are proposing to expand their existing VLT casinos into more expansive resorts. For MGM, the committee voted unanimously to advance the $2.3 billion proposal, after the company added multiple funding initiatives to its application during the review process. That adds nearly $117 million in additional projects that will help to improve the neighborhood of Yonkers and beyond.

Genting also gained unanimous approval from the committee for its plan to expand Resorts World New York City. The $5.5 billion proposal includes a 5,600,000sq.ft integrated resort made up of 6,000 slot machines, 800 gaming tables, 2,000 hotel rooms, a 7,000-seat arena, and more than 7,000 parking spaces.

New York casino licenses are a busy market

Eight bidders have also been vying for the chance to build the city proper’s very first casino throughout the summer. The state plans to issue up to three licenses, forcing developers into a battle to come out on top. The community approval process has been underway throughout the summer, with public hearings taking place throughout July and August.

MGM Resorts and Genting are the first two out of the eight to make it to this stage of the process. That leaves Caesars Palace Times Square, Freedom Plaza, Avenir, Coney Island, Hard Rock’s Metropolitan Park proposal, Bally’s Bronx, and Empire City Casino trailing behind for now.

With billions of dollars in future profits on the line, the developers will still be working hard to get their proposal into a winning spot.

Featured image: Public Domain Pictures, licensed under CC0 1.0

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Trump threatening broadcast station licenses — explained

admin — Sat, 20 Sep 2025 09:26:00 +0000

A sign is seen outside of the “Jimmy Kimmel Live!” show outside the El Capitan Entertainment Centre on Hollywood Boulevard, from where the show is broadcast in Hollywood, California on Sept. 18, 2025.

Frederic J. Brown | AFP | Getty Images

Disney’s decision this week to pull “Jimmy Kimmel Live!” from its broadcast network ABC is shining a light on a part of the media business over which the federal government has control.

On Thursday, President Donald Trump suggested his administration should revoke the licenses of broadcast TV stations that he said are “against” him. Federal Communications Commission Chair Brendan Carr has made similar threats, including during a CNBC interview, also on Thursday.

It’s not the first time Trump or Carr has invoked the government’s power to pull a broadcast station license — putting an in-the-weeds part of the media business front and center for consumers, and flexing the government’s power over a major part of the industry.

What’s a broadcast license?

Let’s start with the basics: Networks such as Disney’s ABC, Paramount Skydance’s CBS, Comcast Corp.’s NBC and Fox Corp.’s Fox are part of a system that requires them to obtain over-the-air spectrum licenses from the federal government in order to broadcast these household-name stations.

That means free, over-the-air service to anyone with an antenna on their TV.

Pay-TV networks such as CNN, MTV or FX, for example, are considered “over-the-top” and available for subscription fees. They’re often bundled together and distributed by companies such as Comcast, Charter Communications or DirecTV.

Broadcasters such as ABC are known for programming that includes local news, live sports, prime-time sitcoms and dramas, as well as late-night shows such as “Jimmy Kimmel Live!”

Although the way consumers watch these programs has significantly changed from the days of using an antenna for free viewership — now they’re often viewed via pay-TV bundles, plus the content is frequently found on streaming platforms — the model has remained largely the same.

Companies that own local broadcast TV stations, such as Nexstar Media Group and Sinclair, license spectrum — or the public airwaves — from the government, with the FCC in control.

Through this public spectrum for radio and TV stations, the federal agency has the right to regulate broadcasting and requires each network “by law to operate its station in the ‘public interest, convenience and necessity.’ Generally, this means it must air programming that is responsive to the needs and problems of its local community of license,” according to the FCC website.

Can Trump and the FCC revoke licenses?

That definition of serving the “public interest” is what the FCC’s Carr has zeroed in on with conversations around revoking licenses.

On Thursday, Carr told CNBC’s “Squawk on the Street” that comments by Kimmel, linking the suspect in the killing of conservative activist Charlie Kirk to Trump’s MAGA movement, were “not a joke,” and instead, he said, were “appearing to directly mislead the American public about … probably one of the most significant political events we’ve had in a long time.”

When Trump has noted the government’s right to take away licenses — both this week and in the past — he has pointed to what he said is bias against him as president.

“I have read someplace that the networks were 97% against me, again, 97% negative,” Trump said Thursday, referring to his 2024 election victory.

“They give me only bad publicity, press. I mean, they’re getting a license,” Trump said. “I would think maybe their license should be taken away.”

People protest at the El Capitan Entertainment Centre, where “Jimmy Kimmel Live!” was recorded for broadcast, following his suspension for remarks he made regarding Charlie Kirk’s assassination, on Hollywood Boulevard in Los Angeles, California, U.S. Sept. 18, 2025.

David Swanson | Reuters

In August, Trump accused networks ABC and NBC of being “two of the worst and most biased networks in history” and suggested revoking their broadcast licenses.

Carr earlier this year, freshly in his post as FCC chairman, reawakened complaints directed at ABC, NBC and CBS from the conservative organization the Center for American Rights.

And in February, during a conversation at Semafor’s “Innovating to Restore Trust in News” summit in Washington, D.C., he suggested the agency would be looking closely at licenses.

“If you’re going to have a license to be a broadcaster, it comes with something called ‘you have to serve the public interest.’ If you don’t want to do that, that’s OK,” Carr said during the summit. “I will give you the address of the FCC … you’re free to turn your license in and you can go podcast and you go over-the-top.”

What happens if ABC or NBC loses its license?

If the federal government deems a broadcast TV network isn’t acting in the public interest, it can revoke the license from the station’s owner, and the local station would effectively go dark in its market.

The local networks can preempt the programming, meaning air something other than what the broader network is offering up. That would theoretically keep the stations in compliance if the FCC were to find the broadcast content unlawful. But it’s unclear where that line would fall.

The process of revoking a license isn’t so simple, according to Roy Gutterman, a professor and expert on communications law and the First Amendment at Syracuse University’s Newhouse School.

“There’s a whole process before you can yank someone’s license,” Gutterman said, adding that the matter would be subject to an investigation and procedure — and would likely garner legal challenges.

Typically, the discussion of whether a station violated the FCC’s guidelines centers around children’s programming, a cut to news content, or obscenity — such as Janet Jackson’s wardrobe malfunction during the Super Bowl in 2004.

Trump and his administration’s threats take a different tack.

“This is such an unprecedented issue,” Gutterman said. “Responsible use of the airwaves doesn’t mean having the political language [the government] doesn’t want on there … Responsible use isn’t a political issue.”

Pressure mounting

There’s another factor at play here: The government’s role in local TV consolidation.

On Wednesday, before ABC sidelined Kimmel, Nexstar announced its stations affiliated with ABC wouldn’t air the late night show and instead would preempt it “for the foreseeable future” due to the host’s statements.

While Disney owns a portion of its ABC-affiliated networks, Nexstar, as well as Sinclair — which similarly said it would preempt the show — own the vast majority. Nexstar owns about 30 ABC-affiliated networks across the U.S., or 10% of the more than 200 stations Nexstar owns in total.

Nexstar is currently seeking government approval of a $6.2 billion deal to merge with fellow broadcast TV station owner Tegna, which would upend longstanding regulations for broadcast station owners.

Sinclair has also said it’s looking to merge its broadcast TV station business with another competitor, although a deal has yet to be announced.

While Nexstar and its peers have bulked up over the years through acquisitions, they’ve been subject to longstanding federal limits on the number of stations that these parent companies can own.

On Tuesday, May 13, 2025 at North Javits in New York City, an incredible roster of all-star talent will tout their connections to storytelling, Disney, and each other while showcasing their latest projects for the upcoming year.

Michael Le Brecht | Disney General Entertainment Content | Getty Images

Following Trump’s election in November, leaders of the station owners — as well as other media businesses — saw an opening for further consolidation and deals.

The FCC’s Carr has also publicly said in recent months that he would support getting rid of broadcast station ownership rules and caps, paving the way for such deals, which could help salvage a business model that’s being disrupted.

With the rise of streaming, the pay-TV ecosystem has bled consumers, and broadcast TV networks and local affiliates have also felt the effects.

While the stations are free to air, distributors such as Charter pay the broadcasters so-called retransmission fees, on a per-subscriber basis, for the right to carry the stations. These lucrative fees heavily buoy the profits of companies such as Nexstar, which means dwindling pay-TV customers cuts into broadcast profits.

Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC under a planned spinoff.

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Elon Musk’s SpaceX to pay $17B for wireless licenses from EchoStar

admin — Mon, 08 Sep 2025 15:29:09 +0000

Elon Musk’s SpaceX has agreed to pay $17 billion for wireless spectrum licenses from EchoStar to build out its Starlink satellite network, the telecommunications firm said Monday.

The deal includes $8.5 billion in cash and up to $8.5 billion of SpaceX’s stock portfolio for two blocks of wireless spectrum that could expand its reach to cellphone users.

SpaceX also agreed to pay about $2 billion of cash toward interest payments on EchoStar’s debt through November 2027.

Elon Musk at President Trump’s inauguration in January. Getty Images

The deal comes after the FCC in May warned EchoStar it was investigating its commitment to provide 5G service in the US, questioning its buildout extension and mobile-satellite service.

In a letter to the company, FCC Chairman Brendan Carr said EchoStar wasn’t effectively competing with major wireless carriers using the licenses at its disposal — threatening to strip the company of some of those valuable spectrum rights.

Charlie Ergen, the company’s chairman, met with President Trump in June. Trump later called Carr to take part in the meeting.

EchoStar said Monday it expects the SpaceX deal to resolve the FCC’s inquiries – sending shares in the company soaring 21.6%.

SpaceX could use the new licenses to beef up its home broadband provider through Musk’s Starlink business. SpaceX has also ventured into mobile phones through a deal with T-Mobile.

Timed exposure of a SpaceX rocket launch in July 2025. Joe Marino/UPI/Shutterstock

EchoStar’s wireless licenses would improve Starlink’s ability to connect with cellphones in remote areas out of reach of cellphone towers.

The deal includes rights to provide ground-based 5G cellphone and broadband service.

SpaceX could use the licenses to build a new cellphone service or share spectrum with telecom partners.

T-Mobile is in talks to lease some of the spectrum rights that SpaceX plans to acquire, people familiar with the matter told the Wall Street Journal.

EchoStar said it expects the SpaceX deal to resolve the FCC’s inquiries. Casimiro – stock.adobe.com

EchoStar recently clinched a deal with AT&T, which agreed to pay $23 billion for wireless spectrum licenses to improve its traditional cellphone service.

AT&T CEO John Stankey called the deal “an opportunistic and pre-emptive asset acquisition,” while EchoStar said the deal is part of its efforts to resolve the FCC’s concerns.

Last year, US satellite TV provider DirecTV terminated its agreement to acquire EchoStar’s satellite television business, which includes rival Dish TV, over a failed debt-exchange offer.

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AT&T to buy wireless spectrum licenses from EchoStar for $23B

admin — Tue, 26 Aug 2025 16:14:27 +0000

AT&T said Tuesday it will purchase key wireless spectrum licenses from EchoStar for about $23 billion, as the telecom provider seeks to boost its network in a competitive market.

In June, President Trump prodded satellite communications and Dish TV parent EchoStar and Federal Communications Commission Chair Brendan Carr to reach an amicable deal over the fate of the company’s wireless spectrum licenses, the company said.

The deal marks the latest major investment by AT&T to accelerate its fiber and 5G network build-out as the wireless market saturates and internet usage surges.

AT&T agreed to buy key wireless spectrum licenses from EchoStar for about $23 billion, as the telecom provider seeks to boost its network. Tada Images – stock.adobe.com

Shares of EchoStar jumped 79% to $53.55, while AT&T fell 1.5%.

In May, the FCC told EchoStar it was investigating the company’s compliance obligations to provide 5G service in the United States, questioning EchoStar’s buildout extension and mobile-satellite service.

Trump met on June 12 with EchoStar Chair Charlie Ergen and later called Carr to take part in the meeting.

EchoStar had been seeking to shield its cache of wireless spectrum licenses from the threat of revocation by the FCC.

EchoStar said the AT&T deal is part of its ongoing efforts to resolve the FCC’s inquiries.

“This transaction puts our business on a solid financial path, further facilitating EchoStar’s long-term success, and enhancing our ability to innovate and compete as a hybrid network operator,” said EchoStar CEO Hamid Akhavan, adding it continues to evaluate strategic opportunities for its remaining spectrum portfolio.

The deal marks the latest major investment by AT&T to accelerate its fiber and 5G network build-out as the wireless market saturates and internet usage surges. Getty Images/iStockphoto

US satellite TV provider DirecTV terminated its agreement to acquire EchoStar’s satellite television business last year, which includes rival Dish TV, over a failed debt-exchange offer.

In May, AT&T clinched a deal to acquire Lumen Technologies’ consumer fiber operations for $5.75 billion in cash.

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AT&T’s bundled plans that combine high-speed fiber with mobile offerings have resonated well with customers as rivals like T-Mobile and Verizon double down on promotions.

The company added 401,000 net monthly bill-paying wireless phone subscribers during the April to June period.

EchoStar said the AT&T deal is part of its ongoing efforts to resolve the FCC’s inquiries. EchoStar shares soared on Tuesday. REUTERS

The licenses cover more than 400 markets across the US in total and will strengthen AT&T’s low-band and mid-band spectrum holdings, the company said.

The companies also agreed to expand their network services agreement, enabling EchoStar to operate as a hybrid mobile network operator providing wireless service under the Boost Mobile brand.

AT&T will be the primary network partner.

AT&T also reiterated its 2025 financial guidance and said it intends to finance the spectrum purchase with cash on hand and incremental borrowings.

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PrizePicks gains gaming licenses in Puerto Rico and Maine

admin — Fri, 25 Jul 2025 23:58:11 +0000

The sports betting company PrizePicks is expanding its reach as it has secured gaming licenses in both Puerto Rico and Maine.

The daily fantasy sports operator describes the new additions as “marking a major milestone” in its continued growth. It also becomes the first daily fantasy sports operator to obtain a gaming license in Puerto Rico.

While those in Maine will be able to access the platform immediately, those in the Caribbean island will have to wait a few more months for it to go live.

Due to gaining these licenses, PrizePicks will be operational with its fantasy contests in 47 jurisdictions across the United States.

PrizePicks becomes first daily fantasy sports licensed operator in Puerto Rico

“We’re grateful to the Puerto Rico Gaming Commission and the Maine Gambling Control Unit for their partnership and support throughout the licensure process,” said Adam Packer, Senior Vice President of Legal & Compliance at PrizePicks.

“We’ve seen tremendous engagement with Arena across the country, and we’re confident that momentum will carry into these new jurisdictions.”

Arena is the company’s pick’em style game. While this news is substantial, PrizePicks has had a busy first half of the year.

It was recently named the official daily fantasy sports partner of the Los Angeles Dodgers. The partnership features several digital and in-stadium activations at Dodger Stadium. While the actual terms haven’t been disclosed, the deal is described as being a multi-year partnership.

“Partnering with the Dodgers is an incredible opportunity to align with one of the most respected organizations in sports,” said Mike Quigley, Chief Marketing Officer at PrizePicks.

“As the Dodgers chase another championship title, we’re looking forward to delivering unique moments that bring fans even closer to the action.”

In May, PrizePicks was named as the official daily fantasy partner of the Houston Astros. The month before, the company shared the news about a deal with the San Francisco Giants. Other announcements have been made about the San Diego Padres and Atlanta Braves.

Featured Image: Credit to PrizePicks Press

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