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Industry consultant Jari Vähänen, formerly a senior executive at Veikkaus, estimated the entire business could be valued at up to €4.5 billion following the liberalisation of the market.

Veikkaus is adjusting to a partial liberalisation of Finland’s gambling market under the new Gambling Act, which was ratified in January 2026. 

From July 2027, the company will lose exclusivity over betting and iCasino products, which will become licence-based, while retaining exclusive rights for lottery games, scratchcards, slot machines and physical table games. 

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For each category, the guide explained pertinent legal provisions and recommended operational actions. 

In cases of identity fraud, operators were advised to close accounts upon establishing fraud and to reserve balances when bank account ownership cannot be confirmed.

Regarding account takeovers, the guide emphasised technical mitigations such as two-factor authentication for withdrawals and changes to banking details.

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In fact, behind those brands, a whole new sector is taking shape. Data and streaming suppliers, specialist market makers and technology companies are quickly invading the space.

The investment banking and capital markets firm Jefferies said in a September report that sports had become prediction markets’ “most important liquidity driver”, with combo and parlay-style contracts accounting for an increasing share of activity. But the analysts cautioned that prediction markets are scale businesses with relatively low revenue yields, leaving their economics dependent on sustained liquidity, engagement and trading activity.

James Monk, founder of sports data and streaming provider Catalist Sports, has witnessed that dependence directly. Catalist supplies ITF tennis data to Kalshi and Polymarket and has an exclusive US sports-streaming agreement with Kalshi.