Polymarket and Kalshi Face Ban by Spanish Government

Odaily reported that the Spanish government is taking action to ban Polymarket and Kalshi, stating that the two prediction market platforms are operating in the country without obtaining gambling licenses, in alleged violation of the law. Spain's consumer affairs department said it has issued preventive blocking orders targeting the websites of Polymarket and Kalshi. Officials will investigate suspected violations of gambling laws, with the relevant proceedings expected to last three to four months.

Spain's Gambling Regulatory Authority stated that when prediction platforms allow users to place bets on uncertain outcomes, they pose gambling risks, and companies seeking to offer such services require specific administrative licenses. Currently, Polymarket and Kalshi have not responded to requests for comment. (WSJ)