Kenya’s GRA to regulate prediction markets

The Director General of Kenya’s gambling regulator, Peter Karimi, revealed that the authority has classified prediction markets as gambling and is working toward a separate license for operators in the sector.

The Gambling Regulatory Authority could add the category to its 2026/27 licensing cycle using powers under the Gambling Control Act 2025, which allows new license types to be created by regulation. A number of operators have expressed interest, and platforms including 5050 Markets, EvenMarket, and Spreadhit already take Kenyan customers.

Cross-border operators, crypto payments, and unmonitored promotion remain open questions for the regulator, which has yet to confirm what events or currencies a license would cover.

Peter Karimi, GRA Director General, said:

“We have to prepare for the fact that marketing knows no bounds.”

Allan Mwamuye Mzungu, Partner at MMS Advocates, said:

“Such a move to bring the entirety of gambling operations under a unified regulatory framework would no doubt be a welcomed one. Whether bettors are staking monies for events that are not sports, the major thing is to ensure such activity falls under a legal framework that provides for investor certainty within the sector and, of course, ensures player protection.”

Liberia recently set up its own prediction market regime, requiring an $80,000 license fee and $500,000 in paid-up capital.