7bet launches prediction market product in Lithuania and Latvia

7bet has announced a prediction market product for Lithuania and Latvia. According to a report by SBC News, the operator is extending event-based betting beyond traditional sports matches with this offering.

On the operator's Lithuanian site, there is a separate prediction section alongside the sports betting section. The page features categories such as politics, entertainment, weather and economy. Examples on the site include questions about the Lithuanian elections and the weather in Vilnius.

Listings show yes or no options, percentages and decimal odds. The report says the market also covers local and international events. The product's technology is provided by Altenar.

The launch came after Lithuania's gambling regulator restricted access to Polymarket in September. The authority said it had findings that bets were being offered without a license or permit. Following a court decision, it asked communication providers to block access and payment providers to halt transactions linked to the platform operator. This decision covers only Polymarket and is not a finding about 7bet.

SBC News reported that the regulatory status of 7bet's product in the two countries is not clear and that views have been requested from regulators. The sector, which may be subject to different rules depending on product structure and jurisdiction, has gained one more operator.