Switzerland’s gambling authority Gespa has opened a preliminary investigation into FIFA’s sale of blockchain-based “Right to Buy” tokens, which allow fans to secure the right to purchase tickets for matches at the 2026 World Cup.
According to a Bloomberg article, the regulator is assessing whether the offering on collect.fifa.com could qualify as a form of gambling. Gespa Director Manuel Richard told Bloomberg that it “cannot be ruled out” that the tokens fall under Swiss gambling legislation. The body will now conduct further fact-finding to determine whether FIFA or its partners require regulatory authorization.
FIFA, headquartered in Zurich, has not been accused of any wrongdoing and declined to comment. Gespa said it had not received any complaints before the inquiry began.
Tokenized tokens and ticket risks
The tokenized tickets for FIFA matches, launched last year, give holders a guaranteed option to buy tickets for specific matches once official sales open. Some tokens, such as the “Right to Final: England” collectible priced at $999, entitle holders to purchase a final ticket only if their chosen team qualifies.
With 48 teams set to compete in 2026, most tokens are expected to yield no tickets, though FIFA reportedly earned about $15 million from sales, according to The Athletic.
The platform is operated in partnership with Modex Tech Ltd., a blockchain software firm based in Switzerland, Gibraltar, and Italy. Modex said it has not yet been contacted by Gespa.
Regulatory Options
If Gespa finds violations, it can compel Swiss-based companies to halt illegal operations or request internet providers to block access to noncompliant foreign websites. The regulator is also legally obligated to alert prosecutors if criminal breaches are identified.
FIFA projects $11 billion in revenue between 2023 and 2026, with the upcoming World Cup spanning 16 cities across the U.S., Mexico, and Canada. Ticket resale prices for the final have already reached $30,000 on FIFA’s official secondary marketplace.
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