Swiss Regulator Probes FIFA Over Blockchain-Based Ticket Tokens

Switzerland’s gambling regulator, Gespa, has launched a preliminary investigation into FIFA’s blockchain-based “Right to Buy” tokens, raising questions about whether the digital collectables might fall under the country’s gambling laws. The probe centres on FIFA’s sale of tokens that allow fans to secure the right to purchase tickets for matches at the 2026 World Cup, scheduled to take place across the U.S., Mexico, and Canada.

According to a Bloomberg report, Gespa Director Manuel Richard confirmed that it “cannot be ruled out” that FIFA’s tokenised offering could be classified as gambling under Swiss legislation. The regulator has begun collecting information to determine whether FIFA or its blockchain partner, Modex Tech Ltd., require authorisation to operate under Switzerland’s gaming framework. FIFA, which is headquartered in Zurich, has not been accused of any wrongdoing and declined to comment on the matter. Gespa also noted that it had not received any public complaints before initiating the inquiry.

Launched last year, FIFA’s “Right to Buy” tokens allow holders to pre-secure an option to purchase tickets for specific matches once sales officially open. The tokens vary in price and exclusivity; for instance, the “Right to Final: England” collectable, listed at $999, gives fans the right to buy a final ticket—but only if England qualifies. With 48 teams participating in the 2026 tournament, the majority of tokens are unlikely to result in ticket purchases, a model that has drawn scrutiny due to its speculative nature. Reports from The Athletic suggest FIFA has already generated roughly $15 million from token sales.

The platform hosting these digital tokens is managed by Modex Tech Ltd., a blockchain software company with operations in Switzerland, Gibraltar, and Italy. Modex confirmed it has not yet been contacted by Gespa regarding the investigation.

If Gespa concludes that FIFA’s token sale violates gambling regulations, the authority could order Swiss-based entities to suspend the activity or instruct internet providers to block access to FIFA’s token platform. In more serious cases, Gespa is legally required to refer findings to prosecutors if criminal breaches are suspected.

The inquiry comes as FIFA projects an estimated $11 billion in revenue for the 2023–2026 cycle, underscoring the organisation’s growing interest in digital assets and blockchain innovation. Meanwhile, anticipation for the 2026 World Cup continues to mount, with ticket resale prices for the final already soaring to as high as $30,000 on FIFA’s official secondary marketplace.