Spain blocks Polymarket and Kalshi platforms
Spain's gambling regulator (DGOJ) has temporarily restricted access to the Polymarket and Kalshi prediction markets within the country. The Spanish Ministry of Social Rights, Consumer Affairs and Agenda 2030 has initiated legal proceedings against these platforms, accusing them of operating without a license. This measure is a precautionary step and will remain in effect until investigations are concluded, approximately 3-4 months. This is reported by Cointelegraph.com .
According to the DGOJ statement, prediction markets involving betting on uncertain future events fall under the category of gambling in Spain and other European jurisdictions. Therefore, a special administrative license is required to provide such services. It has been determined that these two major platforms are currently operating without the necessary permits.
This decision by Spain follows the blocking of Polymarket by the Indonesian government. Additionally, countries such as Australia, France, Poland, Singapore, Ukraine, and Switzerland have also imposed restrictions on these platforms due to gambling legislation. In the US, Kalshi and Polymarket are facing state-level pressure and various restrictions.
A Polymarket representative stated that the company is ready for constructive dialogue with relevant authorities in all jurisdictions. Kalshi representatives declined to comment on the situation for now. According to DeFi Rate data, the combined weekly trading volume of these two platforms is 6.1 billion USD.
Meanwhile, the US House Committee on Oversight and Accountability has launched an investigation into insider trading on these platforms. Committee Chairman James Comer noted that "suspiciously timed trades" were observed on the platforms ahead of US military actions against Iran, suggesting that some users may have profited from confidential information.
