First-Hand Updates from the Global Gambling Market (2026-10-23)

File photo: Earth above the lunar horizon, photographed by William Anders during Apollo 8 on 24 December 1968. A visual reference to the global scope of this news roundup, not a photograph of any reported event. Photo: NASA. No NASA endorsement is implied. Image source; NASA image-use guidelines.

Today’s most important development: The Federation of State Gaming Regulators of Nigeria (FSGRN) has publicly opposed the Federal Competition and Consumer Protection Commission’s (FCCPC) Promotional Regulations 2026. It argues that, under the guise of “consumer protection”, the regulations pull approval and oversight powers for lottery- and prize-draw-based promotions back to the federal level, in violation of the Supreme Court’s November 22, 2024 judgment, and is demanding immediate amendments.

Africa

1. Nigeria: State Regulators’ Federation Calls on FCCPC to Amend Promotional Regulations 2026

The FSGRN issued a formal position statement on October 21, signed by Olajide Boladuro, Director-General of the Oyo State Gaming and Lottery Board and FSGRN Vice-Chairman. The statement identifies several provisions in the regulations: Article 1 extends their scope to lotteries and digital platforms; Article 3 requires promotions that constitute lotteries to comply with the National Lottery Act 2005 and obtain approval from the National Lottery Regulatory Commission (NLRC); Part II requires promotional activities to register with and pay fees to the FCCPC, which may refuse, suspend or revoke registration; Part VIII authorises the FCCPC to supervise draws, obtain information on random-selection algorithms and order draws to be rerun; and Article 64 provides for cooperation between the FCCPC and NLRC. The FSGRN argues that, in case SC/1/2008, the Supreme Court already ruled that legislative powers over lotteries and gambling belong to the states and, in Order 9, permanently restrained the federal government and its agencies from continuing to exercise the relevant regulatory powers in the states. It therefore says references to the National Lottery Act and NLRC should be removed from the regulations, while acknowledging the FCCPC’s general consumer-protection remit.

Impact: Operators, particularly telecoms, fast-moving consumer goods and gambling companies running prize promotions and branded draws, could face two sets of state and federal approvals. The federal–state jurisdictional dispute has resurfaced publicly following the 2024 judgment. The FSGRN has explicitly rejected any arrangement requiring operators to obtain an additional federal approval for lottery activities already regulated by a state, and has called on the federal Attorney-General to ensure compliance with the judgment. If the FCCPC does not amend the regulations, further legal action could follow.

• Source (official: the regulators’ federation’s statement, published in Guardian Nigeria’s notices section): FSGRN Official Position Statement

Latin America

2. Argentina: National Online Betting and Gambling Addiction Prevention Bill to Lose Parliamentary Status in Around a Month

According to an October 22 report by Argentine parliamentary news website Parlamentario, the bill on preventing gambling addiction and regulating online betting, passed by the Chamber of Deputies on November 27, 2024, has still not been considered by the Senate and has less than a month remaining before it loses parliamentary status (estado parlamentario). The bill did not reach the Senate until April 24, 2025, when it was assigned to the Health, General Legislation, and Justice and Criminal Affairs committees. The Senate approved a motion for priority consideration on September 18, 2025, but the bill has still not been scheduled for a joint committee meeting. The executive branch also submitted a separate online betting bill this year, which likewise has not entered discussion. Civil society group Fuerza Suma has written to all senators urging consideration. Citing data from the Secretariat for Comprehensive Drug Policies (Sedronar), the report says consultations about gambling addiction to the 141 helpline increased by 27% in 2025.

Impact: If the Senate still takes no action before the end of November, this national framework restricting advertising and prohibiting minors from participating will have to go through the legislative process again from the beginning. Online betting regulation will remain fragmented among the provinces.

• Source (legislative process, media): Parlamentario Report

3. Betsson Q3: Latin American Revenue Grows More Than 50%, Led by Peru and Argentina, but Profits Fall Sharply

Betsson published its January–September interim report on October 22. Third-quarter group revenue reached a quarterly record of €326.5 million, up 10% year on year from €295.8 million, with organic growth of 8%. Casino revenue rose 14%, while sportsbook revenue grew just 1%; the sportsbook margin was 8.1%, compared with 8.8% a year earlier. EBITDA fell 23% to €63.4 million, and operating profit declined 31% to €46.1 million, with the operating margin falling from 22.6% to 14.1%. Net profit was €28.2 million, compared with €50.1 million a year earlier. Active B2C customers totalled 1.9 million, up from 1.3 million. In the report, the CEO said growth came “mainly from Latin America”, where revenue rose by more than 50%. Peru and Argentina performed particularly well, mainly thanks to World Cup marketing. Rhino Entertainment Group, whose acquisition was completed in early August, has been consolidated into the accounts.

Impact: Latin America has become a major source of growth for European operators, but a strategy of heavy marketing and low gross margins has compressed profitability. Peru’s MINCETUR is seeking comments on the draft of Ministerial Resolution No. 382; if the rules tighten, the cost of this kind of marketing could rise further.

• Source (company announcement): Betsson January–September Interim Report

Europe

4. UK: IG Group Subsidiary Applies for UKGC Sports-Betting Licence as It Prepares Prediction Markets

The UKGC public register shows that IG View Limited, account number 102436, at 88 Wood Street, London, is applying for a “General betting standard — real events — remote” licence. Its status is “Application in progress”; approval has not yet been granted. Media reports say IG plans to launch prediction markets covering politics, sports and entertainment under the “ig prediction markets” brand in early 2027. The register confirms only that the application is under review; the product and timetable are based on IG’s own statements as relayed by the media.

Impact: Prediction markets in the UK are being brought within the gambling licensing system rather than taking the financial-regulation route, a clear contrast with the US approach of placing event contracts under CFTC oversight. The entry of a traditional brokerage will create new competition for exchanges such as Betfair.

• Source (official register): UKGC Public Register: IG View Limited

North America

5. US: Defense Secretary Bans Military Personnel from Using Nonpublic Information to Bet on Prediction Markets

Defense Secretary Hegseth issued a memorandum on October 20 to Pentagon leadership, combatant commands and heads of defense agencies, prohibiting Pentagon and military personnel from using nonpublic government information to make financial wagers. It explicitly covers “traditional gambling platforms as well as prediction markets such as Polymarket and Kalshi”, regardless of whether the information is classified. Violations may result in administrative or disciplinary action under the Uniform Code of Military Justice or federal law, with criminal liability in serious cases. The memorandum itself has not been publicly released; DefenseScoop obtained it on October 22, and sources confirmed its authenticity. The background is the Justice Department’s prosecution in April this year of a master sergeant in the Army’s Special Operations Command, Gannon Ken Van Dyke, alleging that he had advance knowledge of the operation to capture Maduro and made nearly US$410,000 in profits by betting on prediction markets. He has pleaded not guilty.

Impact: The Defense Department has explicitly incorporated “insider betting” on prediction markets into its internal disciplinary rules. The regulatory debate over prediction markets is expanding from state government litigation to national security, and platforms will also face greater pressure over identity checks and suspicious-transaction reporting.

• Source (official memorandum obtained by the media): DefenseScoop Report and Excerpts from the Memorandum

To Follow Up

Brazil MP 1394: As of October 22, the joint congressional committee had still not been formed. Progress is expected after the second round of the general election on October 25; Justice Fux of the Supreme Federal Court (STF) has not yet ruled on the direct action of unconstitutionality (ADI).

Chile: The deadline for government amendments is October 26 at 12:00; the finance minister is due at the Senate Economy Committee on October 27.

Evolution Q3 results are due on October 23 in the European morning, or the afternoon in Beijing; the consultation on Peru’s RM 382 closes around November 5; Lagos LSLGA telecoms verification is due around November 11; Kenya GRA licence-fee case.