Spain blocks Polymarket and Kalshi over gambling-licence rules

Spain’s gambling regulator has opened sanctioning proceedings against Polymarket and Kalshi and ordered their websites blocked in the country, saying the two prediction markets were operating without the required authorization.

The action comes from the Directorate General for the Regulation of Gambling, which said the platforms were offering betting-style products in Spain without a local gambling licence. The ministry also said the case will move through an administrative process expected to last about three to four months.

According to the official notice, the regulator is treating the platforms as gambling operators rather than as ordinary financial or trading venues. The ministry said the sites lacked safeguards it requires from licensed operators, including identity checks and protections for minors and self-excluded users.

The block is a fresh addition to a growing list of countries taking a harder line on prediction markets. Spain’s move puts new pressure on Polymarket and Kalshi as regulators continue to test how these products should be classified and supervised.

What happens next will depend on the outcome of the sanctioning process, and whether either company publicly challenges the Spanish action.