Halts Kalshi, Polymarket Access in Spain During Investigation

(AsiaGameHub) –   Spain’s Ministry of Consumer Rights has implemented a temporary restriction on prediction market platforms Polymarket and Kalshi, preventing access from Spanish IP addresses.

Spain Becomes Latest Jurisdiction to Target Kalshi, Polymarket

The ministry stated that neither platform has received approval to offer its services within Spain. Both Polymarket and Kalshi feature a wide array of events, spanning from political occurrences to weather forecasts.

Consequently, these platforms will be inaccessible for approximately three to four months while the ministry conducts its investigation. The probe aims to determine whether the platforms have adhered to legal requirements or if there has been a violation of Spanish laws.

During the ongoing investigation, Kalshi and Polymarket are prohibited from accepting users from Spain.

This regulatory action in Spain follows a similar investigation announced in South Korea and comes just days after Indonesia blocked access to Polymarket, classifying the platform as a form of illegal gambling.

In a statement, the ministry outlined its legal rationale for the current decision:

“In Spain, similar to other European countries, prediction markets are classified as gambling when bets are placed on uncertain future events. Therefore, operating such markets in Spain necessitates obtaining a specific administrative license.”

European countries have already hammered prediction markets in the past

Enforcement actions against prediction markets have been observed across the European Union. Countries such as France, the Netherlands, Belgium, and Germany, among others, have also taken measures against this sector.

France’s gambling regulator, the Autorité Nationale des Jeux (ANJ), went as far as to label Polymarket’s markets as a form of “illegal gambling.” Regarding Spain, the ministry indicated that attempts to notify the companies of its decision were “unsuccessful.”