From July 6 to July 12, regulatory developments emerged as the dominant force driving global iGaming demand, overshadowing World Cup activities. Although the World Cup was approaching its conclusion, significant changes in the market arose due to legal reviews, enforcement actions, and new gambling legislation rather than World Cup-related events.
The decrease in demand can largely be attributed to event-induced corrections and mean-reversion trends. Countries like Bolivia, Japan, and Paraguay faced a reversal from the spikes seen earlier in connection with the World Cup. Mali recorded the most notable decline of the week with a drop of 55.2%, occurring without any identifiable local catalyst. Similarly, Costa Rica also continued its downward trend for unspecified reasons.
**Top 5 Gainers of the Week**
– **South Korea (+90.8%)**: South Korea saw the largest increase among the Blask-tracked markets, driven by ongoing regulatory uncertainties surrounding prediction markets. On July 10, the Broadcasting, Media and Communications Review Committee announced an investigation into the legal status of Polymarket, determining if it falls under the National Gambling Control Commission Act.
– **Turkey (+49.0%)**: Turkey made its second consecutive appearance on the list of top gainers, increasing by 28.4% the previous week. The market response suggests that enforcement actions may spur an uptick in gambling-related searches as players seek regulatory information.
– **Malaysia (+24.5%)**: For the second week in a row, Malaysia recorded growth following a previous increase of 24.8%. This trend was mainly driven by Operation Op Soga XI, a nationwide campaign targeting illegal betting activities associated with the World Cup.
– **Bangladesh (+20.9%)**: Following the implementation of the Gambling Prevention Act, 2026 on July 1, Bangladesh entered the ranks of gainers. Unlike the typical sports-related increases, this growth stemmed primarily from regulatory changes and the demand for information regarding the market dynamics.
– **Ukraine (+20.4%)**: In Ukraine, market movement was influenced by regulatory advancements rather than World Cup participations.
**Top 5 Decliners of the Week**
– **Mali (-55.2%)**: Mali experienced the steepest drop of the week without a specific trigger from local events, suggesting a natural market correction rather than a response to any particular incident.
– **Bolivia (-42.9%)**: After a previous surge of 51.7%, Bolivia saw a notable decline following the conclusion of the World Cup demand cycle. Although a raid by the AJ regulatory authority on illegal machines contributed to the change, it did not fully account for the nationwide reduction.
– **Japan (-29.9%)**: Japan’s decline followed a spike of 47.5% after its Round of 32 match against Brazil. Elimination from the World Cup, coupled with a lack of exciting matches, meant the earlier increase could not be justified psychologically.
– **Paraguay (-27.6%)**: Following its last week’s gains tied to the World Cup, Paraguay reported a decline after being eliminated against France on July 4, curtailing its betting interest.
– **Costa Rica (-25.5%)**: Costa Rica reported a decrease despite no evident triggering event, likely a natural consequence of earlier World Cup-related increases.
**Market Spotlight: South Korea (+90.8%)**
South Korea's impressive growth can be attributed to both legislative ambiguity and tightening enforcement measures. The pivotal moment came on July 10, when authorities began evaluating Polymarket's regulatory standing. Concurrently, South Korea was executing a nationwide crackdown on illegal betting operations related to the World Cup, including the blocking of websites and public reporting initiatives.
