Nevis launches prediction market licence for €18,000, below iGaming fee
Covers B2C and B2B; the restricted-country list is left blank in the requirements
Key Takeaways
- Nevis introduced the Nevis Prediction Market License on 30 October and NOGA announced it on 2 November 2026 with an €18,000 application and annual renewal fee.
- The €18,000 fee is lower than the €28,000 iGaming licence fee; the licence covers both B2C and B2B providers and multiple market structures.
- Licence conditions ban markets on death, murder, terrorism and ongoing criminal prosecutions and require segregation of client funds, surveillance, position limits and conflict management.
- The prediction‑market requirements leave the "Restricted Countries" list blank and refer licencees to their own due diligence; the 2025 regulation separately lists the US, UK, Australia and several European states.
- Official documents do not publish a minimum capital amount or a tax rate; NOGA will notify financial ratio obligations in writing.
Nevis has introduced a dedicated licence category for prediction market operators and providers with an application fee of €18,000 and an annual renewal fee of €18,000, the authority and official documents announced. The Nevis Prediction Market License was filed on 30 October and announced by the Nevis Online Gaming Authority (NOGA) on 2 November 2026; the fee is lower than iGaming, which is listed at €28,000.
Scope and authorised structures
The licence covers B2C and B2B services and includes markets on sports, financial and economic indicators, political and electoral events, entertainment, weather and climate, and cryptocurrencies and digital assets. NOGA permits binary, multi-outcome, pari‑mutuel or market‑maker structures, all subject to approval, according to the statement.
"to provide greater clarity for businesses entering this sector", said Nuri Katz, chief executive of NOGA, in the press note.
NOGA clarifies that authorisation remains subject to the laws of jurisdictions where a licensee offers services; the authority did not name any applicants at launch.
Operational conditions and market integrity
The licence conditions explicitly prohibit markets on death, murder, terrorism and an ongoing criminal prosecution, as well as any category the authority designates. The requirements obligate applicants and licensees to:
segregate client funds linked to open positions,
implement surveillance capable of detecting wash trading and self‑matching,
set position limits per player and per market,
manage conflicts of interest between staff, market makers and affiliates,
obtain approval for resolution methods and oracles in the application, with no changes without notice.
In addition, NOGA requires player ID and a utility bill receipt before any payout, and identity verification must be repeated when aggregate deposits reach US$10,000. Applicants must be companies incorporated in Nevis, have an independent compliance officer, a local reporting officer and contract with one of three approved dispute resolution providers.
The requirements document asks for three‑year projections, a liquidity plan and an independent proof certificate for any matching engine developed in‑house. On capital, conditions only state that licensees must meet financial ratios that NOGA will notify in writing; no minimum capital figure or tax rate appears in the published documents.
Fees, administration and legal basis
NOGA's fee page lists €18,000 as a one‑off payment for the prediction market licence (B2C or B2B) and €18,000 as the annual renewal, versus €28,000 for an iGaming licence. Apex Capital Partners is listed as the operating company managing NOGA and NGA Management Limited, of Gibraltar, processes payments; cryptocurrency is accepted. See [payments](/payments) for the payments note.
The authority rests on the Nevis Online Gaming Ordinance, No. 2 of 2025, passed on 29 April 2025 after the bill was introduced by Premier Mark Brantley, and on regulations issued by the finance minister in June 2025. SRO No. 5 of 2025, made on 19 June 2025 and effective from 1 July 2025, contains the geo‑blocked list for B2C.
The restricted‑country list and market reach
The conditions require geo‑blocking residents of "Restricted Countries", but they leave the specific list blank in the prediction markets requirements document; NOGA refers the definition to the licensee's "own due‑diligence obligations and applicable legal requirements." By contrast, the 2025 regulation's country list includes: United States, United Kingdom, Australia, France, Germany, Spain, Netherlands, Austria and Saint Kitts and Nevis. If that list applies, the licence would exclude US markets and several European jurisdictions where regulators have acted against prediction platforms. The rules also note that markets may include [sports](/sports).
NOGA said its aim was to provide greater clarity to businesses, but it has not yet stated explicitly which list governs prediction markets; the published documents do not identify any applicants.
Market context and closing observations
The move arrives amid litigation and regulatory activity internationally: Hacksaw has run B2B prediction markets under a Malta licence, and the Commodity Futures Trading Commission (CFTC) is suing Utah to block the state application against certain event contracts. NOGA has embedded requirements addressing concrete prediction‑market risks — insider trading, manipulation, disputed resolution and commingled funds — but the absence of capital figures, a tax rate and a definitive blocked‑jurisdiction list leaves open which real markets licensees will be able to serve. See [regulation](/regulation) for the legal context.
The licence positions Nevis as a lower‑cost Caribbean alternative to the local iGaming licence and to other regimes, but for now it functions as a rulebook without named licensees or public confirmation of the markets it will grant access to.
Frequently Asked Questions
How much does the new Nevis prediction market licence cost?
The licence costs €18,000 as a one‑off application payment and €18,000 as the annual renewal. These fees appear on NOGA's fee page and are compared with €28,000 for an iGaming licence.
What types of markets can operate under the licence?
The licence authorises markets on sports, financial and economic indicators, political and electoral events, entertainment, weather and cryptocurrencies, using binary, multi‑outcome, pari‑mutuel or market‑maker structures. All structures are subject to NOGA approval per the 2 November 2026 statement.
What geographic restrictions does the licence impose?
Licencees must geo‑block residents of "Restricted Countries", but the prediction markets requirements document leaves that list blank and refers licencees to their own due diligence and applicable law. Separately, the 2025 regulation lists the United States, United Kingdom, Australia, France, Germany, Spain, Netherlands, Austria and Saint Kitts and Nevis.
What integrity controls does NOGA require of operators?
NOGA requires segregation of customer funds tied to open positions, surveillance to detect wash trading and self‑matching, position limits per player and market, conflict‑of‑interest management, approval of resolution methods and oracles, player ID checks and enhanced verification at US$10,000 aggregate deposits.
What corporate and structural requirements must applicants meet?
Applicants must be incorporated in Nevis, have an independent compliance officer and a local reporting officer, use one of three approved dispute‑resolution providers, and submit three‑year projections, a liquidity plan and an independent proof certificate for in‑house matching engines.
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About the author
Renata Quiroga
Betting Markets Correspondent
Renata Quiroga covers sports betting and prediction markets — sportsbook launches, odds technology, event contracts, and the regulatory calls that decide what can be bet on and where. The reports open with the product or the ruling, name operators and platforms precisely, and explain the mechanics without needless jargon. When a book enters a Latin American market or a prediction exchange lists a contested contract, Renata Quiroga reports what changes for the bettor.
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