Spain Blocks Prediction Markets Polymarket, Kalshi over Lack of Gambling Licences
- On Tuesday, Spain's Consumer Rights Ministry temporarily banned prediction markets Polymarket and Kalshi for operating without a required gambling licence, ordering internet service providers to block access to both platforms.
- Once a niche internet segment, prediction markets have expanded into a multi-billion-dollar industry since gaining traction in U.S. politics in 2024, with Spain classifying them as gambling when they involve wagering on uncertain outcomes.
- The two platforms dominate trading activity, with Kalshi recording roughly $5.9 billion in trading volume over 30 days while Polymarket processed about $3.8 billion, according to DeFiLlama data.
- Spain's action joins a growing wave of restrictions, as Indonesia and India blocked Polymarket earlier this week, while Taiwan, Thailand, China, Japan, Ukraine, Belgium, Australia, France, the UK, and Germany have also restricted the platforms.
- Regulators globally debate whether prediction markets should fall under gambling or financial market rules, with Kalshi operating in the US under Commodity Futures Trading Commission oversight while Polymarket relaunches in America.
15 Articles
15 Articles
The General Directorate of Game Planning (DGOJ), under the Ministry of Social Rights, Consumption and Agenda 2030, has opened a case to punish Polymarket and Kalshi, two predictive platforms in which bets are made for a possible violation of the rules of play since they would be operating in Spain without having the obligatory administrative authorization. According to the Ministry that directs Pablo Bustinduy, an order has also been issued to b…
The procedure will last between 3 and 4 months until the final resolution. More information: Polymarket is turning geopolitics into a casino: Iran, Venezuela and online gambling with insider information
The Ministry of Social Rights, Consumption and Agenda 2030 has opened a dossier to punish Polymarket and Kalshi, two predictive platforms in which bets are made, for a possible violation of the rules of play. They would be operating in Spain without the mandatory administrative authorization.Continue reading...
The BOE publishes the opening of a sanctioning file against the prediction platforms as they are considered gambling
The Official State Gazette publishes the opening of a sanctioning file against these two predictive market platforms as they are considered a game of chance
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