John Stawyskyj
Consultant

John Stawyskyj is global head of Ashurst’s hotels and gaming practice, and is a recognised leader in real estate, hotels and gaming law and a board member of the International Association of Gaming Advisors (IAGA). John advises across all aspects of gaming issues and all commercial transactions involving the gaming industry (including acquisitions, disposals, joint venture arrangements, development projects, leasing, financing arrangements, regulatory issues and drafting of management and operating agreements for gaming operations). John has had extensive experience advising on land based interactive and online gambling services, SMS betting competitions and other internet gaming activities.

International Gambling Regulations and Law Review

The global regulatory landscape is evolving rapidly, with some of the key thematics including:

1. The proliferation of cryptocurrency reshaping the industry. Crypto gambling has boomed, presenting complex challenges for regulators, operators, and consumers alike. In the UK, the Gambling Commission has identified the regulation of cryptocurrencies as an immediate concern, emphasising the need to address transparency and anonymity issues to uphold consumer protections;
2. Prediction markets have emerged as a hybrid and innovative industry, blurring the lines between financial and gambling products. Regulatory responses differ across jurisdictions, with the US treating them as financial instruments at the federal level and the UK Gambling Commission regulating these markets in the UK; and
3. Illegal financial activity, including offshore gambling and money laundering, is a growing international concern. Cross-border collaboration between regulators, law enforcement, and financial institutions will be vital in strengthening compliance and enforcement mechanisms.

More broadly, Latin America is seeing stronger regulatory frameworks being put in place. Regionally, Brazil’s online sports betting markets are projected to experience significant growth alongside the introduction of expansive sanctioning powers and advertising obligations. The African market, particularly South Africa, Nigeria, and Kenya, is expected to develop in 2026, driven by legislative developments, rapid urbanisation, growing internet access coupled with a predominantly youthful population. The Asia- Pacific region is also emerging as a fast-growing market, fuelled by high mobile internet penetration and a digitally native population. However, in Southeast Asia, regulatory standards vary considerably, from Singapore’s robust enforcement powers and Macau’s stringent operator reporting obligations, to the continued prohibition of gambling in Indonesia and mainland China (noting that Thailand is actively progressing legislation to legalise casinos and integrated entertainment complexes). As these markets mature, regulators worldwide face the shared task of balancing market growth with robust consumer protections.

Global crypto gambling and crypto casino markets are expected to experience rapid growth over the coming decade. Cryptocurrency volatility continues to pose a fundamental risk, as fluctuations in asset value can distort wagering outcomes and compound losses for players. However, this is being addressed through the adoption of stablecoins, as users can take advantage of their price stability, faster settlement times, and lower fees. This rapid growth of crypto gambling brings with it significant regulatory challenges, particularly in the areas of transparency, consumer protection and AML concerns.

Prediction markets have developed beyond speculative tools and could rival the global sports betting industry. These markets are anticipated to evolve into a new layer of financial and information infrastructure, reflecting real-time sentiment, risk, and collective intelligence. Global opportunities continue to grow as monthly transaction volumes in prediction markets have surged significantly, driven by a rapidly expanding user base. These markets have moved from a crypto-native niche into mainstream finance, aided by integration with brokerages. Geopolitics, macroeconomics, and politics now drive the majority of trading activity, positioning these markets as live indicators of global events. However, significant challenges have emerged alongside this growth. Regulatory frameworks remain unsettled and fragmented globally. Regulatory responses to the growing prediction markets vary across jurisdictions, with the US treating them as financial instruments and the UK Gambling Commission regulating their markets as gaming products. In other jurisdictions globally, their regulation remains clouded and uncertain, falling between financial and gaming products. Market manipulation concerns have intensified, as on-chain analysis has revealed clusters of potentially coordinated trading activity around major geopolitical events. While platforms have begun introducing insider trading restrictions and enhanced surveillance measures, the legal treatment of prediction markets is still evolving.

Regulatory fragmentation remains a primary concern, with legal ambiguity across jurisdictions threatening market growth and making it difficult for operators to scale compliantly. The UK’s remote gaming duty increase, tightened anti-money laundering requirements, General Data Protection Regulation enforcement in the EU, and fragmented US state-level taxation, are collectively raising compliance costs and reshaping operator competitiveness. Regulators worldwide are also grappling with the proliferation of sophisticated black-market organisations circumventing enforcement constraints. The globalised black market is fuelled by high taxes and friction in the regulated market.

As markets globalise and offshore and online enterprises in the grey and black markets grow, consumer protection, particularly of underage and problem gamblers, is a growing concern. These markets generally operate with no spending limits, affordability checks, or responsible gaming measures. Influencer marketing by global platforms has also drawn criticism for normalising risky behaviour and circumventing advertising regulations. Due to this, the industry faces intensifying regulatory pressures across all major markets To counter financial crime, regulators need to consider the deployment of real-time payment monitoring systems, establish structured cross-border intelligence sharing, and align fiscal policies with consumer behaviour to prevent customers migrating to unregulated platforms.

To summarise, rapid technological innovation and expanding market access indicate promising growth in 2026. However, regulatory fragmentation, black-market proliferation, and evolving financial crime tactics demand coordinated cross-border responses and adaptive enforcement frameworks. The convergence of gambling, financial markets, and blockchain technology will require jurisdictions globally to strike a careful balance between encouraging innovation and establishing robust, harmonised standards that protect market participants and maintain public trust.