It appears to be in the store under the Mozilla Pubic License. From a press 
release:

VLC for iOS is fully open-source. Its code will be available online by tomorrow 
and is bi-licensed under both the Mozilla Public License Version 2 as well as 
the GNU General Public License Version 2 or later. The MPLv2 is applicable for 
distribution on the App Store.
We worked hard with all major copyright holders to not repeat history and we 
are confident to have achieved this goal.

> On 5 May 2016, at 3:12 PM, James Hale <ja...@thehales.id.au> wrote:
> 
> In the referenced thread Monte mentioned something about fmpeg and it 
> associated libraries and licensing.
> Today I was notified of an update the VLC and remembered how that is now 
> available on the App Store.
> Looking at Videolan's site, VLC is GPL 2.
> How is it that it can be distributed under Apple's terms and conditions and 
> still be adhering to its GPL terms and conditions?
> Leaving the fact that there is a conflict here the more interesting question 
> to me is why didn't Apple stop it. I know they did pull it when it first came 
> out for iOS and then a second time but it has been back for a while now. I 
> haven't been able to find anything on the Videolan's site to suggest their 
> license has changed so what gives?
> Is their wiggle room here for LC community apps to get up on the App Store?
> 
> James
> 
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