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While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.
In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.
Bernstein estimates the global market for financial contracts will grow to $900 trillion by 2035, up from $700 trillion last year, and if prediction markets capture just 0.5% of that total, volume would increase by $4.7 trillion per year.
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Additionally, the Africa Safer Gambling Week will emphasise the importance of channelisation into legal offerings, with the AiA warning the black market often neglects player protection.
Olabimpe Akingba, head of responsible gaming at pawaTech and AiA board member, said the initiative reflects the association’s push to turn cross-border collaboration within Africa’s iGaming sector into tangible action on player protection.
“At the African iGaming Alliance, we have been committed to moving beyond conversations about collaboration across African jurisdictions towards meaningful action,” she explained.
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He told iGB earlier this year he’d “certainly be interested” in a full four-year term after the current one expires. With a background in suppliers and testing labs, Dreitzer is acutely aware of the technical challenges facing the state.
“When I started here, I had multiple conversations with various licensees who operate across multiple jurisdictions, and the consistent commentary I heard was that they would go to Nevada last, if not never at all, because there was concern about the time it would take, the lack of regulatory consistency, the lack of clarity,” he told iGB in January. “So when I came in, in view of the mandate from the governor and the work began by Chair Hendrick, I felt I needed to do something.”
Jess has covered the global gaming industry since 2022. A native of Reno, Nevada, he’d like to note that it’s Ne-va-da, not Ne-VAH-da.
