Spain Blocks 2 Prediction Markets for 3-4 Months Over Gambling Licences

7 articles · Updated · Reuters · May 26

Spain's Consumer Rights Ministry temporarily banned Polymarket and Kalshi, with the suspension expected to last three to four months while regulators investigate their operations.
The ministry said the U.S.-based platforms allegedly operated without the mandatory gambling licence and administrative authorisation required under Spanish rules.
Spain treats prediction markets as gambling when users bet on uncertain outcomes, and said unlicensed operators may lack identity checks, minor-access controls and protections for self-excluded gamblers.
The move hits a fast-growing sector that has expanded from an internet niche into a multibillion-dollar industry after gaining traction in U.S. politics in 2024.

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