Spain’s Consumer Rights Ministry has temporarily prohibited U.S.-based prediction‑market platforms Polymarket and Kalshi from operating in Spain because they do not hold the mandatory gambling licence required under Spanish law.
The ministry’s gambling watchdog opened an investigation alleging the companies are violating local regulations by providing services without the required administrative authorisation.
The ban is expected to remain in effect for three to four months, lasting until the investigation is concluded.
Spanish authorities state that unauthorised operators lack essential technical and regulatory safeguards, including robust identity‑verification systems, access‑control mechanisms for minors and for individuals who have self‑excluded or been banned from gambling, and other standards needed to protect users.
Prediction markets, which let users buy and sell stakes on future event outcomes, are classified as a form of gambling in Spain because bets are placed on uncertain outcomes.
The industry has expanded from a niche internet segment into a multi‑billion‑dollar market, gaining significant attention after being used in U.S. political contexts in 2024.
