Prediction markets Polymarket and Kalshi are facing increased regulatory pressure, and Spain has now joined the effort. Following concerns about security and investigations by authorities, Spanish regulators have officially taken action against both companies, ordering their websites to be blocked across the country.
Sanctions Against Polymarket And Kalshi
Spain’s gambling regulator has started legal proceedings against Polymarket and Kalshi. As part of this, they’ve ordered internet service providers throughout Spain to block access to both platforms’ websites while the case is investigated.
Spain’s gambling regulator took action against the companies, claiming they were operating without the necessary licenses. The regulator stated it began the process of imposing penalties due to violations of gambling regulations.
The issue is that Polymarket and Kalshi are operating in Spain without the required licenses. Spanish regulators consider prediction markets like these to be similar to gambling, where people bet on events that haven’t happened yet, and therefore require specific authorization – a rule shared by many European countries.
According to this understanding, any platform operating within Spain needs to have a special license. The governing body stated that operators without a license don’t meet Spain’s standards for safe and legal gambling.
These safety measures involve verifying user identities, blocking access for children, preventing banned individuals from using the service, and ongoing monitoring to ensure user protection.
The agency stated that the case against Polymarket and Kalshi is predicted to take around three or four months to resolve, after which a final ruling will be made.
US Investigation, Indonesia Ban
Spain’s recent actions add to a difficult month for prediction markets, following issues at Polymarket and Kalshi. Just this week, Polymarket dealt with a security breach and was prohibited in Indonesia after a bet about the President’s time in office drew local scrutiny.
Indonesia’s government restricted access to protect people online, especially young users, and ensure a safe digital environment.
Congressman James Comer has launched a formal investigation into two prediction market platforms. As part of this investigation, he’s asked the CEOs of both companies to detail how they work to identify and stop illegal insider trading.
The investigation started after unusual trading activity was detected, potentially connected to secret US military plans and global events. Spain is the latest country to impose sanctions and restrict access, adding to a growing list of regulators taking action.
Featured image created with OpenArt; chart from TradingView.com
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2026-05-27 13:11