Spain Temporarily Blocks Polymarket and Kalshi Over Licensing Concerns

Spain's Directorate General for the Regulation of Gambling (DGOJ), under the Ministry of Consumer Affairs, has instructed internet service providers to temporarily block access to prediction market platforms Polymarket and Kalshi. According to Odaily, the regulatory body believes these platforms may be violating local gambling laws by offering prediction trading products based on future events without obtaining a Spanish gambling license. Spanish authorities have expressed concerns over the lack of necessary consumer protection measures, such as identity verification, protection for minors, and self-restriction mechanisms, on unlicensed platforms. The investigation into these platforms is expected to last three to four months. During this period, Spanish users attempting to access these websites will receive risk warnings. The regulatory body may consider further actions, including fines, permanent restrictions, or requiring the platforms to apply for a local license.