IG Group applies for UK gambling licence

IG Group wants to get back into betting and prediction markets. It has applied for a UK gambling licence that would let it offer contracts tied to politics, entertainment and sporting events.

The company expects to launch financial event prediction contracts for professional clients in late 2026. It's aiming to launch more prediction market products in early 2027.

This reflects a growing trend. Traditional trading, investing and speculating on events are coming together.

IG applied through IG View Limited, a subsidiary based in London that trades as "IG Prediction Markets". The licence is still under review.

The application fits IG's wider push into the sector. This includes its planned purchase of Underdog, a US company that runs fantasy sports and prediction markets. The deal is valued at up to $1.3 billion.

Chief Executive Breon Corcoran used to lead major names in the betting industry. He has stressed that financial markets and entertainment-driven trading increasingly overlap.

The move stands out because IG left the gambling sector more than a decade ago.

If the licence is approved, IG would join the established operators already working in the UK betting market. It could also help prediction markets become a mainstream product faster, both for finance and for consumers.

The rules for these products are still being worked out. People across the industry will be watching to see how they are presented and how widely people take them up.

What RHR thinks

We believe financial trading, investing and prediction markets are coming closer together. We think this is a big change in how people deal with risk, data and market opportunities. As the rules become clearer, we expect firms with strong expertise in both financial services and betting to be in a good position. Those firms are the most likely to benefit as this new market takes shape.

What this means for hiring. IG plans to launch new prediction contracts from late 2026, which points to more work for product teams. The licence application and the rules that are still changing also make compliance and regulatory roles more important.