Prediction Markets Face European Backlash Amid World Cup Betting Frenzy
Posted on: June 19, 2026, 11:42h.
Last updated on: June 19, 2026, 11:42h.
- European gambling regulators from nine countries warn that prediction markets lack key consumer protections
- Regulators are closely monitoring World Cup betting activity and may take action against prediction market platforms that fail to comply with laws
- Despite claims of better payouts, prediction market odds on the World Cup champion were comparable to traditional sportsbooks
Prediction markets come with inherent dangers, including increased risks of financial ruin, so says a group of European gambling regulators.
In a joint statement, the gaming regulatory bodies of Belgium, France, Germany, Italy, the Netherlands, Poland, Portugal, Spain, and Switzerland are warning the public to be mindful about using a prediction market to bet on the World Cup. The regulators say prediction markets don’t have nearly the same consumer protections and responsible gaming safeguards as bookmakers.
These platforms are not licensed. They don’t offer any safeguards, and are open 24 hours a day. There are no built-in betting limits apart from the amounts staked, no time limits, identity checks to verify that users are of legal age, etc. The combination of visibility, accessibility, and the viral nature inherent to this type of platform creates a significant addictive cycle,” the release said.
“It is important to emphasize that this type of platform involves serious risks of illegality, fund blocking, fraud through insider information, and financial volatility. Furthermore, because they are unregulated in most countries, they can create serious addiction problems,” the statement continued.
World Cup Is Betting Bonanza
Global wagering on the 2026 World Cup is forecasted to exceed $60 billion on legal, regulated markets.
When including unregulated betting, such as offshore sportsbooks and local bookies, the volume is expected to be nearly $600 billion. Those figures come from Gaming Compliance International, a firm that consults governments and tribal nations on regulatory compliance and illicit gambling.
Much of the betting will be on newly launched prediction markets offering trading on sports outcomes, including all 104 matches of the World Cup. The World Cup even has an official prediction market on Predictstreet, a Gibraltar-licensed platform backed by an organization in Abu Dhabi.
We will be working closely together during this period, and in doing so, we will not only ensure that gambling operators comply with regulations on advertising, betting integrity, and player protection, but also act, where necessary, against prediction markets platforms that fail to comply with our local regulations,” the regulators said.
To highlight how the World Cup is impacting betting, DraftKings Predictions, the prediction market of the iGaming and sports betting giant, reported that trading volume surged almost 90% since the tournament kicked off on June 11.
Do Prediction Markets Offer Better Odds?
Since prediction markets aren’t subjected to hefty state sports betting taxes, some traders say the platforms can offer better payouts. For the World Cup outright winner, that isn’t the case.
France is considered the betting favorite for the 2026 World Cup. On Kalshi, France’s shares are trading at implied odds of 19%. A $100 bet on that price would pay out $498. On DraftKings, France is at +400, or implied odds of 20%. A $100 bet on those odds would pay $500.
The Kalshi payout would also be subject to the prediction market platform’s trading fees.
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