Spain temporarily bans Polymarket and Kalshi, investigation may last for months

The Spanish Directorate General for the Regulation of Gambling (DGOJ) has requested internet service providers to temporarily block the prediction market platforms Polymarket and Kalshi.

The regulatory agency believes that both platforms are offering prediction trading products based on the outcomes of future events to local users without obtaining a gambling license in Spain, which may violate local gambling laws. The Spanish authorities stated that unlicensed platforms lack necessary consumer protection measures such as identity verification, protection for minors, and self-restriction mechanisms.

Reports indicate that the relevant investigation is expected to last 3 to 4 months. During the investigation, Spanish users will receive risk warnings when accessing the relevant websites. The regulatory agency may subsequently impose fines, permanent restrictions, or require applications for local licenses.