Swiss Regulators Question If FIFA's Tokens Cross Gambling Line

Switzerland's gambling authority, Gespa, has launched a preliminary investigation into FIFA's blockchain-based "Right to Buy" (RTB) tokens for the 2026 World Cup, assessing whether the product falls under gambling legislation. The tokens, sold on FIFA's Collect platform, grant holders the right to purchase tickets for specific matches once official sales open. Gespa Director Manuel Richard stated that the regulator "cannot rule out" the offering on collect.fifa.com being relevant under gambling laws, prompting further fact-finding to determine if regulatory action is requiredFIFA Faces Swiss Probe Over Blockchain-based Ticket Tokens^[1]. FIFA, headquartered in Zurich, has not been accused of wrongdoing and declined to commentFIFA’s World Cup Blockchain-Based Ticketing System Faces …^[2].

The RTB tokens function as non-fungible tokens (NFTs) that provide conditional access to tickets. For instance, the "Right to Final: England" token, priced at $999, entitles holders to purchase a World Cup final ticket only if England qualifies. With 48 teams competing in 2026, most tokens are expected to yield no actual tickets, though FIFA has already generated approximately $15 million from salesIs a FIFA Crypto Coming? Blockchain World Cup Tickets Probed^[3]. The tokens are tradable on secondary markets, with some reselling for over $7,000 for high-demand matchesSwiss Regulator Initiates Probe into FIFA's Blockchain World Cup …^[4]. Gespa is examining whether the conditional nature of these tokens-where value depends on unpredictable outcomes like team performance-aligns with gambling definitions under Swiss lawGespa opens probe into FIFA ‘Right to Buy’ World Cup NFTs^[5].

FIFA's RTB initiative is part of its broader adoption of blockchain technology, developed in partnership with Modex Tech Ltd., a blockchain software firm based in Switzerland, Gibraltar, and Italy. Modex has not yet been contacted by GespaFIFA’s World Cup Blockchain-Based Ticketing System Faces …^[6]. The platform operates on a custom Avalanche-based blockchain, allowing transactions in USDC and fiat currencies. FIFA's 2026 World Cup, spanning 16 cities across the U.S., Mexico, and Canada, is projected to generate $11 billion in revenue between 2023 and 2026FIFA Faces Swiss Probe Over Blockchain-based Ticket Tokens^[7].

Regulatory action could force Swiss-based companies to halt noncompliant operations or block access to foreign sites. Gespa is legally obligated to notify prosecutors if violations are confirmedSwiss Regulator Initiates Probe into FIFA's Blockchain World Cup …^[8]. The investigation highlights the challenges of categorizing novel blockchain instruments under existing legal frameworks. Analysts note that the conditional utility of RTBs-where value hinges on team success-complicates regulatory classification, particularly as secondary market trading adds financial complexityGespa opens probe into FIFA ‘Right to Buy’ World Cup NFTs^[9].

Market implications are significant. A finding that RTBs constitute gambling could set a precedent for stricter oversight of blockchain-based ticketing and fan tokens globally. This scrutiny may deter sports organizations from adopting similar technologies, slowing the integration of Web3 solutions in sports. The case also underscores the evolving intersection of blockchain innovation and regulatory boundaries, particularly in high-profile international eventsSwiss Regulator Initiates Probe into FIFA's Blockchain World Cup …^[10].