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

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

Regulators believe that both platforms offer local users prediction trading products based on the outcomes of future events without obtaining a Spanish gambling license, potentially violating local gambling laws. Spanish authorities stated that unlicensed platforms lack essential consumer protection measures such as identity verification, minor protection, and self-restriction mechanisms.

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