TheBlock
Spain's gambling regulator has blocked access to Polymarket and Kalshi, citing the platforms' failure to hold the required operating licenses to offer prediction market services to Spanish users. The move marks one of the most direct regulatory interventions against the sector in Europe to date.
The action fits a widening global pattern: prediction markets have drawn scrutiny from regulators in the US, UK, and now across the EU, with authorities variously classifying them as unlicensed gambling operations or unregistered derivatives venues. Polymarket, which runs on the Polygon blockchain, previously settled with the CFTC in 2022 over US user access. Kalshi, despite holding a CFTC licence in the United States, has no equivalent authorisation in Spain or the broader EU.
Frequently asked questions
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What are the implications of Spain's ban on Polymarket and Kalshi for users?
The ban restricts Spanish users from accessing these prediction markets, limiting their options for engaging in such services. It also signals a tightening regulatory environment for similar platforms across Europe.
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How does this ban compare to regulatory actions in other countries?
Spain's ban aligns with increasing scrutiny in the US and UK, where prediction markets face classification as unlicensed gambling or unregistered derivatives, indicating a broader trend in regulatory oversight.
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