Spain blocks Polymarket and Kalshi — unlicensed betting…

Spain's Ministry of Consumer Affairs has opened disciplinary proceedings against prediction market platforms Polymarket and Kalshi, ordering internet service providers to block access while cases proceed — a process expected to take three to four months. The country's gambling regulator, the DGOJ, cited the platforms' failure to hold licenses required under Spanish law and the absence of safeguards for minors and self-excluded gamblers.

The two platforms are far from small targets. Over the past 30 days, Kalshi recorded roughly $5.9 billion in trading volume and Polymarket processed about $3.8 billion, together representing nearly 88% of the roughly $11 billion in volume across the sector's top markets, according to DeFiLlama data.