April 7 – FIFA has named Adi Predictstreet as the official prediction market partner for the 2026 World Cup, but questions have arisen over the controversial deal with the mysterious new company.
While FIFA described the agreement as “a landmark multi-year partnership” and claimed it “underscores FIFA’s continued commitment to innovation and fan engagement,” Norwegian investigative magazine Josimar has reported that world governing body’s mysterious new commercial partner currently has no working product, is backed by Emirati royals and is unlicensed in almost all jurisdictions, having obtained a licence in Gibraltar a few days before the deal with FIFA was disclosed.
In addition, its ‘Principal Council Member’ is understood to have paid a six-figure sum to settle an accusation of insider trading in India only last year.
Ajay Hans Raj Bhatia, who is pictured with President Gianni Infantino in FIFA’s press release celebrating the deal, entered a settlement with India’s Security & Exchange Board (SEBI) over allegations of insider trading of £700,000 in the shares of several Adani companies, making a profit of £45,000.
Prediction markets have exploded in popularity in the past year; a form of betting, the markets allow punters to wager on just about anything – from geopolitical events to football matches, including this summer’s World Cup in the US, Mexico and Canada. They are largely unregulated in the US – and outlawed in many other jurisdictions – and have been linked to insider betting, with many noting flurries of activity surrounding unexpected political statements or actions.
The industry has now firmly set its sights on the sports betting market and is beginning to emerge from its US cocoon and out into the rest of the world. FIFA’s latest commercial partner has come at the same time as LaLiga announced Polymarket – a leading name in the burgeoning industry – as its North America partner, becoming the first league to strike a deal with a prediction market.
Contact the writer of this story, Samindra Kunti, at [email protected]