IG Group Plans to Launch Prediction Markets in the UK

IG Group has applied to the UK Gambling Commission for a remote general betting licence. The application was made through IG View Limited, a London-based subsidiary, and the product will operate under the trade name "ig prediction markets". The application still appears as pending on the Commission's public register.

The company announced its plan at its Capital Markets Event on 22 October. Management aims to combine prediction markets with its existing investment services. The new products are expected to start with financial event contracts for professional clients in the fourth quarter of 2026, with sports, politics and entertainment contracts following at the beginning of 2027.

IG Group Chief Executive Breon Corcoran said trading, investing and entertainment are moving closer together, and that the company is well placed to take advantage of this opportunity. The move follows the company's agreement to acquire Underdog, a US-based fantasy sports and prediction market operator.

The company will roll out the products in stages, because financial contracts and non-financial contracts fall under different regulatory frameworks in the UK. The Financial Conduct Authority oversees financial derivatives. Since binary options have been banned for UK retail customers since 2019, the first financial products will be offered only to professional clients. Sports and political contracts still require approval from the Gambling Commission.