Swiss Regulator Probes FIFA's Blockchain Tokens as Gambling Instruments

Switzerland's gambling regulator, Gespa, has initiated a preliminary investigation into FIFA's blockchain-based "Right to Buy" tokens, which grant holders the opportunity to purchase World Cup 2026 tickets contingent on specific conditions, such as a team's advancement to the final. The regulator is assessing whether these tokens fall under Swiss gambling laws, with Gespa director Manuel Richard stating the offering "may be relevant under gambling legislation" and requiring further fact-finding to determine regulatory action FIFA faces Swiss probe over blockchain ticket tokens^[1]. The tokens, developed in partnership with Modex Tech Ltd., include variants like the $999 "Right to Final: England" token, which guarantees access to the final match only if England reaches that stage FIFA’s World Cup Blockchain-Based Ticketing System Faces …^[2].

The speculative nature of the tokens has raised concerns, as most buyers will not receive tickets if their teams are eliminated early. FIFA reportedly earned $15 million from these sales, according to The Athletic, while the 2026 World Cup is projected to generate $11 billion in total revenue for the organization FIFA’s World Cup 2026 Blockchain Ticket Tokens Face Swiss …^[3]. Token holders can trade the assets on secondary markets, though the lack of guaranteed ticket allocation introduces financial risk for participants. Gespa has not received prior complaints about the platform, and FIFA has declined to comment on the investigation FIFA’s World Cup Blockchain-Based Ticketing System Faces …^[2].

The regulatory scrutiny highlights broader challenges in classifying blockchain-based ticketing systems. Gespa's authority extends to ordering Swiss-based companies to cease violations or requesting internet service providers to block access to noncompliant platforms. If violations are confirmed, the regulator is legally obligated to notify criminal prosecution authorities FIFA’s World Cup Blockchain-Based Ticketing System Faces …^[2]. FIFA's collaboration with Modex, a blockchain firm with operations in Switzerland, Gibraltar, and Italy, has not yet prompted direct communication from Gespa to the company FIFA’s World Cup Blockchain-Based Ticketing System Faces …^[2].

The 2026 tournament, hosted across the U.S., Mexico, and Canada, represents one of FIFA's most lucrative events. The introduction of blockchain technology for ticketing aligns with growing crypto adoption in the region, though it also introduces regulatory complexities. The tokens differ from traditional ticket sales, as they do not guarantee seat availability or team participation at the time of purchase. Instead, they offer conditional access, creating a hybrid model between ticket allocation and speculative investment FIFA faces Swiss probe over blockchain ticket tokens^[1].

FIFA's foray into blockchain extends beyond ticketing. The organization recently migrated its NFT marketplace, FIFA Collect, to a custom Avalanche-powered layer-1 blockchain to enhance scalability and user experience. This move underscores FIFA's broader strategy to leverage blockchain for digital fan engagement, though the current investigation focuses narrowly on the ticketing tokens . The distinction between ticketing and collectible NFTs may influence regulatory outcomes, as the latter's speculative elements are less tied to event attendance.

The investigation's resolution could set a precedent for blockchain-based ticketing systems globally. If Gespa concludes the tokens constitute gambling, FIFA may face compliance adjustments or operational restrictions in Switzerland. Conversely, a determination that the tokens are legitimate ticketing tools could reinforce blockchain's role in event access. The outcome also carries implications for Modex and other blockchain firms, as regulatory clarity on tokenized assets remains fragmented across jurisdictions FIFA faces Swiss probe over blockchain ticket tokens^[1].