Spain has moved to block access to prediction market platforms Polymarket and Kalshi. The country’s regulator, the Dirección General de Ordenación del Juego (DGOJ), has launched a formal sanction to proceed with operators. At least for a couple of months, Spanish users cannot access the platforms.
The action was published on the official site of the Ministry for Social Rights, Consumer Affairs, and Agenda 2030. The Spanish authorities claim that offering money for future prediction events is gambling. Polymarket or Kalshi does not hold licenses required by the country’s laws. Around 3 or 4 months, the block will remain.
Spanish regulators see the prediction market as an unlicensed betting operation. Hence, under the gambling laws, placing money for predicting future outcomes is illegal.
Authorities see this as a way to protect a customer: unauthorized platforms will fail to verify users, cannot prevent minors from using the platforms, or stop individuals with gambling-related issues from accessing such sites.
Before the restrictions, Spanish officials had sent formal notices to both companies, but the needed documents were not delivered.
The case of Spain reflects a wider debate in Europe about prediction markets. Some countries view it as a gambling product, while others see it as a financial trading product.
Furthermore, Polymarket has faced issues across Europe. Two years ago, France introduced similar laws. Other countries have enforced restrictions, such as Germany, Belgium, Portugal, Switzerland, Romania, the Netherlands, Poland, and others.
Once final decision is made, Polymarket and Kalshi will face 3 options:
- applying for local licensing
- further challenging the legal procedure
- blocking Spanish users from accessing their platforms
