Spain Temporarily Blocks Polymarket and Kalshi; Investigation May Last Several Months

Odaily reports that the General Directorate for the Regulation of Gambling (DGOJ), under Spain's Ministry of Consumer Affairs, has required internet service providers to temporarily block the prediction market platforms Polymarket and Kalshi.

Regulators believe that the two platforms, without obtaining a Spanish gambling license, offer local users prediction-based trading products related to future event outcomes, potentially violating local gambling laws. Spanish authorities stated that unlicensed platforms lack necessary consumer protection measures such as identity verification, minor protection, and self-exclusion mechanisms.

Reports indicate that the related investigation is expected to last 3 to 4 months. During the investigation period, Spanish users will see a risk warning when accessing the relevant websites. Regulatory authorities may subsequently take measures such as imposing fines, permanent restrictions, or requiring the platforms to apply for local licenses. (crowdfundinsider)