Gibraltar’s gambling regulator has pushed back against mounting criticism over how quickly ADI Predictstreet secured its licence, insisting the process was properly handled and thoroughly reviewed.
Gambling Commissioner Andrew Lyman confirmed that he recommended approval before the company’s FIFA partnership became public, with Minister Nigel Feetham granting final sign-off following due diligence. Both officials rejected the backlash, calling the coverage “sensationalist.”
The timing of the approval has drawn particular attention, as the licence was announced just a day before Predictstreet revealed its partnership with FIFA. While Feetham described the move as an opportunity to boost Gibraltar’s economy, critics have questioned the speed of the process and the background of individuals linked to the company.
Recent reports have intensified scrutiny. Norwegian outlet Josimar described Predictstreet’s leadership as a “cast of controversial characters,” highlighting that licensing processes in jurisdictions like Malta or the Isle of Man typically take months. The report also pointed to hires with past links to regulatory or legal issues, raising concerns despite no formal findings of wrongdoing against those individuals.
Lyman defended the regulator’s decision-making, stressing that the licence followed a full due diligence process and his formal recommendation. He noted that while the timeline was accelerated due to the upcoming FIFA World Cup, this did not mean corners were cut. “Speed does not mean lack of scrutiny,” he said, adding that the application underwent “focused scrutiny” throughout.
He also explained that the licence was initially granted under Gibraltar’s 2005 framework before being transitioned into the updated 2025 regime. Addressing criticism, Lyman argued that negative coverage is being driven by a search for headlines rather than substance, reiterating that regulatory decisions must balance opportunity with oversight.
Gambling Commissioner Andrew Lyman, said:
We cannot generate the economy by being overly risk averse and spending months reflecting on business models that are the future. Being too risk averse means business looks elsewhere and doesn’t comeback as the business model grows in another jurisdiction.
Minister Feetham echoed this stance, stating that while prediction markets remain a debated sector, Gibraltar must stay open to innovation if it wants to remain competitive
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