Spain Blocks Kalshi and Polymarket, Citing Lack of Gambling Licences
Spain has blocked Polymarket and Kalshi for operating without gambling licences, with similar actions taken across the EU and US.Summary
Spain has initiated sanctions proceedings against US-based prediction market platforms Polymarket and Kalshi, resulting in the provisional blocking of their websites. The Spanish Ministry of Social Rights, Consumer Affairs and the 2030 Agenda, acting through the Dirección General de Ordenación del Juego (DGOJ), accuses the companies of operating without the required gambling licence. The authorities argue that unlicensed operators fail to meet essential protection standards, including identity verification and controls for minors. The platforms define themselves as exchanges rather than traditional betting providers, but regulators classify the business model as gambling. Similar measures have been taken in other EU countries, including Portugal, Hungary, and France, and in several US states, such as Tennessee and Nevada. The industry faces increasing regulatory pressure due to its rapid growth, highlighted by monthly trading volumes exceeding $13.5 billion, and concerns regarding insider trading.
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