Spain has joined the increasing number of countries that are prohibiting access to Polymarket and Kalshi due to regulatory concerns over their licensing status.
Access to these platforms has been halted for lacking necessary licenses as per Spanish gambling regulations, which highlight inadequate protections for minors and individuals who have opted out of gambling.
By Francisco Rodrigues|Edited by Sheldon Reback May 26, 2026, 12:06 p.m. 2 min readMake preferred on
Kalshi website. (Jesse Hamilton/CoinDesk)Key Points:
- Spain has launched disciplinary actions against Polymarket and Kalshi, instructing internet service providers to restrict access to these platforms for providing unlicensed betting options.
- The platforms were barred for lack of required licenses under Spanish gambling regulations, citing insufficient safeguards for minors and self-excluded gamblers.
- This action by Spain adds to the global trend of regulatory examination of prediction markets, following similar actions in countries like Indonesia and India.
Details of the Situation
The Spanish Ministry of Consumer Affairs has initiated disciplinary proceedings against the prediction market platforms Polymarket and Kalshi, mandating internet service providers to block access.
In official notices from the Directorate General for Gambling Regulation (DGOJ), Spain's gambling authority, it was stated that the companies were offering betting products linked to uncertain future events without the necessary licenses mandated by Spanish law, as reported by local news sources.
The authorities indicated that these precautionary blocking measures would be in effect while investigations unfold, a process projected to last around three to four months.
These notices were issued after regulators were unable to reach the companies through known foreign addresses.
Currently, Kalshi and Polymarket lead the prediction market trading sector. Kalshi reported approximately $5.9 billion in trading volume over the past month, while Polymarket recorded about $3.8 billion, according to DeFiLlama data.
Together, they account for nearly 88% of the estimated $11 billion in trading volume among the leading platforms in this sector during that timeframe.
Spain's decision aligns with a growing trend among jurisdictions scrutinizing prediction markets as regulatory bodies deliberate whether these offerings should be categorized under gambling or financial market regulations.
Recently, Indonesia blocked Polymarket due to online gambling restrictions, a move also mirrored by India. Additionally, nations such as Taiwan, Thailand, China, and Japan have imposed restrictions on the platform, while Ukraine has completely blocked it with no legal avenue for reinstatement.
Polymarket's list of restricted countries also includes Belgium, Australia, France, the U.K., and Germany, while the platform is planning to relaunch in the United States.
In the U.S., Kalshi has taken a different regulatory approach, operating under the oversight of the Commodity Futures Trading Commission (CFTC), but it has also faced scrutiny.
Spanish authorities have expressed concerns that unlicensed operators may lack essential safeguards such as identity verification, protections for minors, and measures for self-excluded gamblers.
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Indonesia blocks Polymarket, calling prediction market online gambling in disguise
By Francisco Rodrigues, AI Boost|Edited by Aoyon Ashraf19 hours agoAuthorities stated that using crypto or blockchain does not exempt platforms that allow users to bet on uncertain outcomes from being classified as gambling products.
Key Points:
- Indonesia blocked the crypto prediction market Polymarket, citing it as illegal online gambling under local law.
- Authorities asserted that the use of crypto or blockchain does not change the classification of platforms that enable users to wager on uncertain outcomes as gambling products.
- Indonesia's ban is part of a wider crackdown on prediction markets in Asia,...