Nevis Opens New License Framework for Prediction Markets

Nevis, part of the Federation of Saint Kitts and Nevis, has launched its own licensing regime for prediction markets. The regulator, the Nevis Online Gaming Authority (NOGA), has added the Nevis Prediction Market License to its services. NOGA bans local residents from taking part in iGaming activities but continues to issue B2B and B2C licenses for international operations.

The license will cover both B2C operators and B2B technology and service providers that want to enter the new market. Markets under the license include binary or multi-outcome options on sports, financial and economic indicators, political and election events, entertainment, weather and climate, and crypto movements and digital assets. NOGA has announced that its licensing process will include corporate due diligence, customer protection and anti-money laundering (AML) standards, with the aim of safeguarding market integrity and preventing manipulation.

NOGA Chief Executive Officer Nuri Katz said that as prediction markets develop, regulatory approaches should reflect how these platforms operate and the risks they carry. Katz said the new framework aims to provide clarity for businesses entering the sector, while keeping market integrity and participant protection at the center of the licensing process. NOGA argues that prediction markets have a structure different from traditional online gambling products. This view is generating debate as the issue gains attention.

Nevis's move follows Gibraltar becoming the first jurisdiction in the world to regulate this area earlier in 2026. In the United States, platforms such as Kalshi and Polymarket are regulated at the federal level by the Commodity Futures Trading Commission (CFTC), and these products are officially kept separate from gambling. However, states such as New York, Arizona and Utah object to treating these products as investment instruments. After Arizona, Utah also accused Kalshi of illegally operating gambling in the state and opened a criminal case against the company.