Spain blocks Polymarket and Kalshi over unlicensed prediction markets

Spain ordered the blocking of Polymarket and Kalshi after opening sanction proceedings against the prediction market platforms for allegedly operating without the gambling authorization required under Spanish law.

The Ministry of Social Rights, Consumer Affairs and Agenda 2030 said the platforms allow users to place bets on future events and may be violating national gambling rules by operating in Spain without administrative approval. The Directorate General for Gambling Regulation, or DGOJ, issued the website blocking order as a precautionary measure until the case is resolved.

The sanction proceeding was notified Tuesday through Spain’s Official State Gazette after direct notification attempts to the companies at their known foreign addresses were unsuccessful. The ministry said the procedure is expected to take three to four months before a final resolution.

Spanish regulators classify prediction markets as gambling when users wager on uncertain future outcomes. The platforms let users trade positions on the result of events, including elections, economic data, sports, and other outcomes, with prices reflecting market implied probabilities.

The DGOJ said unauthorized operators lack the technical and regulatory safeguards required in Spain, including identity verification, controls to prevent access by minors and self excluded users, and supervision standards designed to protect users.

The action adds Spain to a widening regulatory crackdown on prediction markets. Brazil blocked 27 prediction market platforms, including Polymarket and Kalshi, in April after the National Monetary Council barred derivatives tied to sports, political, social, cultural, and entertainment events.

Argentina also ordered a nationwide block on Polymarket in March over illegal gambling concerns, while Indonesia blocked Polymarket in May after classifying the platform as online gambling under local law.

India has also moved against the sector, with Polymarket blocked after a government directive and Kalshi reportedly facing a similar order as authorities classify prediction markets as prohibited online money gaming.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.