Lithuania-based operator 7bet has announced plans to roll out a prediction-markets product in Latvia and Lithuania. The proposed offer is expected to cover event contracts relating to elections, politics, weather, celebrity news and other local or international developments. The announcement does not specify a go-live date.
Altenar technology and local rules
The platform is being built using technology from sportsbook supplier Altenar. 7bet holds gambling licences in both countries and the UK, but the regulatory treatment of prediction markets differs across the Baltic states. Lithuania treats such products as gambling and requires a licence; Latvia requires a gambling licence for non-financial event contracts such as political, sports and pop-culture outcomes. It is not yet clear how the proposed product will be classified in each market.
Enforcement backdrop
SBC News also reported that Lithuania’s regulator had ordered 2,208 unlicensed gambling domains blocked. The product announcement is commercially significant, but operators and affiliates should wait for regulatory clarification rather than assume that an existing sportsbook licence automatically covers every event-contract category.