Spain Blocks Polymarket and Kalshi for Lacking Gambling Licenses

Spanish regulatory authorities have decided to block access to prediction markets Polymarket and Kalshi. According to Reuters, the block was imposed on the grounds that these platforms do not hold the necessary gambling licenses to operate in the country. The decision was made under Spain's online gambling and betting regulations. Polymarket and Kalshi are known as platforms that allow users to earn money by making predictions on topics such as political elections, sports events, and financial events. However, Spanish authorities stated that these services should be classified as gambling and are therefore subject to licensing requirements. The blocking decision is seen as part of Spain's efforts to tighten gambling regulations. In the country, online gambling platforms can only be offered by licensed operators, and these licenses require compliance with specific obligations. The access block on Polymarket and Kalshi in Spain stands out as an example of the regulatory challenges such prediction markets face in Europe. The platforms may need to apply for a license or adapt their services to re-enter the Spanish market. This is not investment advice.