7bet Launches Prediction Markets in Lithuania and Latvia Two Months After Polymarket Block

7bet, a Vilnius-based operator licensed in Lithuania, Latvia and the UK, has launched prediction markets for customers in Lithuania and Latvia, SBC News reported on 6 November 2026, roughly two months after Lithuania's gambling regulator moved to block Polymarket.

What 7bet has launched

7bet has announced a prediction markets product covering both Baltic markets, according to SBC News. The operator holds licences in Lithuania, Latvia and the UK. Event contracts reportedly span elections, politics, weather, celebrity news, and local and international events, per a casinonodeposits.org rewrite of the SBC report.

The platform is built on technology from Altenar, the B2B betting technology supplier that entered prediction markets earlier in 2026, SBC News said. 7bet described the launch on LinkedIn as a step in its strategy of bringing "the latest global trends, innovative products" to its markets, as relayed by SBC.

The launch puts a locally licensed brand into a product category that the Lithuanian regulator has so far treated as a gambling enforcement matter rather than a separate financial product.

Why the timing matters: the Polymarket block

The Lošimų priežiūros tarnyba (LPT), Lithuania's gambling supervisory authority, obtained a Regional Administrative Court decision and then instructed telecoms providers to block Polymarket. It also told payment providers to stop transactions with Adventure One QSS, Inc., according to SBC News. SBC called it the first prediction market restricted by LPT.

LPT's reasoning, as set out in an LRT report, is that Polymarket describes itself as a prediction market but lets users place bets on events. The regulator therefore treats it as illegal gambling.

LRT also reported that Kalshi remains accessible in Lithuania. LPT's position, per LRT, is that neither Polymarket nor Kalshi holds a Lithuanian licence and that both offer the same sports and politics bets. LRT cites LPT as saying 2,204 illegal remote gambling sites are blocked in the country, while the casinonodeposits.org rewrite of SBC's launch story gives 2,208 domains.

Polymarket has also been restricted in France, Germany, Italy, the Netherlands and Spain, according to hipther.com.

Open regulatory questions for 7bet

SBC News says it is unclear where 7bet's product falls under Lithuanian and Latvian rules, and that it has asked the Latvian and Lithuanian regulators for comment. No regulator response has been published.

The question matters because LPT's Polymarket case turned on how a product behaves, not on what it is called. A licensed operator offering yes/no event contracts on elections or weather will be measured against the same test: whether users are placing bets on events. How 7bet structures its contracts, and under which licence permissions, will decide how the product is read.

What it means for operators and suppliers

For suppliers, the Altenar link shows B2B platform providers moving into event contracts for licensed sportsbook clients, not only for standalone exchanges. For licensed operators in smaller European markets, the Lithuanian case shows the risk of launching before the regulator has signaled how it classifies the product.

The regulatory picture elsewhere is moving in several directions at once:

• United States: Ohio told gaming licensees to cut ties with prediction markets by 30 October or risk their licenses, as covered in Ohio's prediction market license warning.
• Australia: the Australian Securities and Investments Commission (ASIC) said it is not convinced retail products serve the public interest, in ASIC's prediction markets stance.
• Licensing: the Nevis Online Gaming Authority opened a prediction market license to business-to-consumer and business-to-business applicants, per the Nevis licensing update.
• Volume: Jefferies put October's average daily volume at a record $4.13 billion, in Jefferies' October volume figures.

Demand is clearly rising, but the Lithuanian enforcement action shows that regulators in the EU can act on unlicensed offerings by using existing gambling powers. The next signal will be any statement from LPT or the Latvian regulator on 7bet's contracts.

Status reviewed on 6 November 2026. Launch details come from SBC News reporting, and enforcement details from LPT statements as reported by LRT and SBC News. More regulation news and EMEA coverage.