iGaming Horizon Ep #5: Entain hints at potential CEE stake sale, Meta looks into prediction markets, record fine issued by Dutch gambling watchdog

The latest episode of iGaming Horizon delivers insights about the most important developments from the gambling industry. In episode 5, hosts Mike and Nate address a number of hot topics, including the uptick in activities by offshore gambling operators during the World Cup, Meta’s potential plans for Prediction markets and Entain’s latest business move, among other important recent events.

Listen to the newest iGaming Horizon episode #5 on Spotify here.

"Today, we’re covering Entain’s CEE stake sale, Meta’s possible prediction market plans, Brendan Sorsby’s NFL setback, political event contracts, Kentucky’s lawsuits, offshore World Cup promotions, the Dutch fine against Chestoption, and Sweden’s casino channelization problem," Mike said early in the episode.

Jumping into the first story, the two hosts focused on Entain’s plan to sell a 20% stake in its Central and Eastern Europe venture to EMMA capital. "The deal should bring in around €425m, with most of that paid when the sale closes," Mike said, to which Nate responded: "Completion is expected in the fourth quarter of 2026, assuming regulators approve it."

Mike continued saying: "But the bigger point is that Entain may not stop there." The response of his co-host was: "Exactly. CEO Stella David said the company is exploring strategic options for the rest of its share, with a full exit looking likely." The two hosts agreed that Entain’s latest decision isn’t just a minor adjustment but rather a "wider reshaping of the business," as described by Nate.

"The UK market has become more expensive and more demanding, especially with higher levies and tougher operating pressure," Mike added. When he asked if Entain’s decision represents weakness, Nate explained: "I don’t think it has to be. It can also be discipline. The global gambling market is harder to cover broadly now. Companies may need to focus on the markets where they have the strongest long-term position."

Next, the two hosts looked into Meta’s potential plans for entering the prediction markets vertical. "Mark Zuckerberg has reportedly asked teams at Meta to explore a platform inspired by Kalshi and Polymarket," Nate. Mike continued saying that rumor has it that the platform may not offer real-money trading.

"Right. The idea would reportedly use a video-game-style point system instead," Nate explained. Such a decision, according to Mike, will enable Meta to avoid scrutiny related to gambling.Nate then said: "At least at first. If there is no direct cash trading, regulators may have a harder time treating it like gambling."

"People predict outcomes, compete with others, and try to be right before the crowd," he continued, while Mike pointed to Meta’s massive audience. Nate acknowledged that Meta has approximately 3.56bn users across the globe.

Continuing the latest episode of iGaming Horizon, the two hosts looked into a recent development with the NFL’s Brendan Sorsby. "Brendan Sorsby’s short-term path into pro football appears closed," Nate said. Mike responded: "The NFL Management Council denied his request to participate in the NFL Supplementary Draft."

"More specifically, the NFL said there would be no Supplementary Draft this year," Nate continued, to which, Mike responded: "Sorsby had been fighting the NCAA after being banned from college football."

Nate went on to say: "The NFL said it did not have enough time to fully review the request and pointed to his NCAA gambling issues." Mike then acknowledged that the League described those as "core game integrity issues." What’s more, he pointed out: "Sorsby reportedly placed more than 90,000 dollars in wagers, including bets involving his own team."

Looking into the next hot topic, Mike pointed out: "Staying with prediction markets, Americans appear skeptical of political event contracts." He continued saying: "A Politico poll suggested many people oppose markets on what the president might say next, whom they might pardon, acts of terrorism, or the outcome of wars."

Nate responded: "One number stands out. Sixty-four percent opposed terrorism or war outcomes as viable markets." The two hosts agreed that such a response is understandable and Nate added: "Those markets can feel morally wrong very quickly."Mike further explained: "So the public may not be rejecting prediction markets entirely." Nate continued: "No. They may be rejecting certain categories."

The next topic was also related to prediction markets. "Kentucky Attorney General Russell Coleman has launched lawsuits targeting Kalshi, Polymarket, and VGW," Nate said. "Two prediction market companies and one major sweepstakes operator," Mike continued.

Nate said that Coleman argues prediction markets and sweepstakes violate the established gambling laws in Kentucky. "His claim is that Kalshi and Polymarket are offering sports gambling under a different name," Mike added. "And with VGW, he says sweepstakes products are being used as a workaround to avoid state gambling rules," Nate continued.

Focusing on Entain again, Nate said: "Next story: Entain is warning about offshore operators targeting UK players during the World Cup." Mike added: "The company says unregulated gambling sites are using promotions to attract UK audiences during the tournament."

Nate pointed to Entain’s new report which uncovered that 30 offshore brands are actively targeting UK audiences. "And at least 72 UK-facing promotions designed to drive traffic offshore," Mike continued.

"Entain’s UK and Ireland managing director said illegal gambling promotion is operating at scale, with coordinated networks targeting millions of fans," Nate pointed out. Mike added that the World Cup represents a huge opportunity for offshore operators to lure new players.

"Exactly. Betting interest rises, casual players enter the market, and illegal brands move aggressively," Nate added. The two agreed that this story reflects on the wider black market that impacts licensed gambling companies, which follow established rules and pay higher costs.

The next story focused on offshore gambling in the Netherlands. "The Dutch regulator, the KSA, issued a fine of just over €3m to Chestoption Sociedad de Responsibilidad Limitada, a Costa Rica-based operator," Nate said. Mike responded: "The regulator says the company targeted Dutch customers without authorization."

Continuing their discussion, the two hosts agreed that the fine is significant. However, Nate pointed to one major challenge, namely, collecting the monetary sanction. "Because offshore operators may not have assets inside the Netherlands," Mike explained to which Nate responded: "Exactly. Regulators can issue major fines, but collecting them is much harder if the company does not cooperate."

Continuing with the last story in the latest podcast episode, Nate pointed to Sweden’s struggle with online casino channelization. "Sports betting is doing well, but online casino is weaker," Mike added. Nate said that online casino channelization dipped to 84% in 2025.

"So more players are moving offshore," Mike said. Nate continued: "Exactly. The regulator noted that most gambling still happens with licensed operators, but the decline is a warning sign." Asked by Mike why are players leaving, Nate responded: "Two reasons stand out. Some people using Spelpaus, Sweden’s self-exclusion system, are turning to offshore sites not covered by it."

Image credit: Casino Guru News