Spain has ordered the blocking of prediction market platforms Polymarket and Kalshi, initiating sanction proceedings for operating without the required gambling authorization under Spanish law.
The Ministry of Social Rights, Consumer Affairs and Agenda 2030 stated the platforms allow users to place bets on future events, potentially violating national gambling rules by operating without administrative approval. The Directorate General for Gambling Regulation issued the blocking order as a precautionary measure.
The sanction proceeding was notified Tuesday via Spain’s Official State Gazette. The ministry expects the procedure to take three to four months before a final resolution.
Spanish regulators classify prediction markets as gambling when users wager on uncertain future outcomes. The platforms allow trading on election results, economic data, sports, and other events, with prices reflecting implied probabilities.
The DGOJ emphasized that unauthorized operators lack required safeguards including identity verification, age restrictions, self-exclusion controls, and supervision standards to protect users.
This action adds Spain to a growing list of nations targeting prediction markets. Brazil blocked 27 platforms in April. Argentina ordered a nationwide block on Polymarket in March over illegal gambling. Indonesia blocked Polymarket in May. India has also moved against the sector.