Spain joined a growing list of national authorities restricting or banning prediction market platforms amid concerns over unlicensed gambling activities.
Spain’s gambling regulator blocked local users from Polymarket and Kalshi “as a precautionary measure” as authorities there address allegations the prediction markets platforms were in violation of gambling laws.
On Tuesday, Spain’s Directorate General for the Regulation of Gambling (DGOJ) said the country’s Ministry of Social Rights, Consumption, and Agenda 2030 had opened legal proceedings against the two companies, as they appeared to be operating without necessary licensing. The DGOJ issued an order blocking Spanish users from Kalshi and Polymarket until the proceedings were resolved, expected in three to four months.
“The DGOJ wishes to remind the public that, in Spain — in line with other European jurisdictions — prediction markets are deemed to constitute games of chance when bets are placed on uncertain future outcomes,” according to a Tuesday notice. “Consequently, operating such markets within Spanish territory requires obtaining a specific administrative license.”
