WSJ Links Most ADI Predictstreet Trading to Apparently Connected Wallets

Cryptocurrency wallets apparently linked to ADI Predictstreet generated most of the platform’s trading volume through late September, according to a Wall Street Journal investigation.

The report attributed approximately $108 million of the platform’s $167 million in transactions to connected wallets that traded almost exclusively with one another. Since late August, a network of 795 wallets accounted for 99% of trading activity, the analysis found.

The findings concern ADI Predictstreet, FIFA’s official prediction market partner for the 2026 World Cup. They raise questions about how much of its reported activity came from independent customers. 

Common Funding Address Underpins Analysis

Three Harvard University students identified the trading patterns by examining publicly available blockchain records, the Journal reported.

The wallets received funding from a single address that also collected the platform’s trading fees. The newspaper noted that such fees are typically collected by addresses associated with a platform’s owner, providing the basis for the apparent company connection.

During the World Cup, two linked wallets alone traded more than $81 million with each other across hundreds of markets. The Journal characterised the patterns as circular trading that appeared to inflate activity artificially.

The suspected relationship between the wallets and the company remains an attribution based on the transaction analysis, rather than an established finding of regulatory misconduct. 

Gibraltar Regulator Reports No Consumer Harm

Gibraltar Gambling Commissioner Andrew Lyman told the Journal that a preliminary review found ADI Predictstreet compliant with the territory’s regulations, including its prohibition on self-trading. He also said the review had identified no consumer detriment.

ADI Predictstreet did not respond to the newspaper’s requests for comment. FIFA declined to comment.

The regulator’s preliminary assessment and the researchers’ concerns therefore stand alongside one another: the blockchain analysis questions the independence of trading activity, while the review reported by the commissioner found no regulatory breach. 

FIFA Partnership Gave Platform Global Exposure

FIFA announced its multi-year agreement with ADI Predictstreet in April, appointing the company its first official partner in the prediction market category.

The partnership positioned the platform around the 2026 World Cup and gave it prominent exposure during the tournament. FIFA’s official partner listing continues to identify ADI Predictstreet as the competition’s official prediction market partner.