Spain Joins Growing Global Crackdown on Polymarket and Kalshi Over Missing Gambling Licenses
Regulators said the platforms lacked mandatory gambling authorization and safeguards for minors and self-excluded users.
8 Articles
8 Articles
It is only the last country to do so because of a long dispute over the world's most important predictive market.
Spain joins list of more than 30 countries that have banned Polymarket
If Polymarket had opened betting on its platform being blocked in Spain, surely a high percentage of users would have put money on it happening sooner or later. The trickle of countries that have imposed restrictions on the popular application, which makes it possible to win money by guessing the winner of the World Cup — not to mention the declaration of war or the start of a pandemic — continues to grow. Argentina suspended its use in March, w…
The two largest forecast market platforms in the world have been banned from operating in Spain. The decision joins a growing wave of restrictions in Europe and a little around the world,...
Spain Joins Growing Global Crackdown on Polymarket and Kalshi Over Missing Gambling Licenses
Spain’s Ministry of Consumer Rights temporarily banned Polymarket and Kalshi on Tuesday, ordering internet service providers to block access to both platforms after determining they were operating in the country without a gambling license. The decision, published in Spain’s official state gazette, opened disciplinary proceedings against both U.S.-based companies. Spain’s gambling regulator, the Dirección General de Ordenación del Juego (DGOJ), s…
Spain is the first country in the European Union to take action against so-called Prediction Markets. The government in Madrid has provisionally closed the Polymarket and Kalshi platforms.
In Spain, there is a big regulatory scandal around the world's largest forecasting and betting platforms – Polymarket and Kalshi – and because of the lack of a license for gambling operators, the government has already ordered that these resources be blocked.
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