Is this considered gambling in a mobile app?

Hi all,

I had a quick query to see if this would be considered gambling under guidelines -

1. I charge a monthly subscription fee to unlock this feature of my app ($4.99/month)
2. Each subscriber gets 400 of our app's internal currencies.
3. Users can use this app to bet on sporting events. They can bet only on the outcome of the event. They will be provided with live odds through an API.
4. Based on how well they do, the users with the most of our internal currencies at the end of the month will win prizes.

Would this process be considered gambling and require licenses on our end?

Thank You for your help!!!!