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The operational infrastructure available to these new firms, however, remains underdeveloped. Gonzalez contrasts prediction markets with equities, where trading businesses can use prime brokers, clearinghouses and standardised systems such as FIX.

“When it comes to prediction markets, none of that exists,” he said. “Everyone that’s building in the prediction market space mostly starts from ground zero.”

Platforms were generally constructed for one person operating one account, rather than trading organisations requiring separate permissions and controls. According to Gonzalez, some teams still share a single login.

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Holland Casino has a responsible gambling board, which includes scientists, experts with lived experience and their own RG executives. They meet with the board every few months to talk over current processes, and the board challenges the operator’s ideas and implementations, 

Much of the debate focused on stricter supervision and the protection of players. Ultimately, the secretary of state said that work to increase black market enforcement would take precedent in the Netherlands, while increasing the gambling age would be revisited once the illegal market is under control.

“It is time to tackle that illegal offer properly, so that we can move towards a time when we do have to move towards an age increase. If that turns out not to be necessary, then we don’t do it,” she said.

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Instead, it proposed a risk-based approach. It suggested lighter controls on use cases such as coding assistants, but strong checks on customer-facing functions, particularly those involving fraud and responsible gambling.

Kenneth Brincat, CEO of the MDIA, said companies needed “practical ways” to better understand where AI fits within their businesses.

“Trust is fundamental to the responsible adoption of AI. As its use becomes increasingly embedded across the gaming sector, organisations need practical ways to understand where AI is being used, manage the associated risks and ensure that accountability and human oversight remain firmly in place,” he said.