A three-to-four month suspension while Madrid’s gambling watchdog investigates makes Spain the latest European jurisdiction to treat prediction markets as unlicensed betting.
Spain has temporarily blocked the US-based prediction markets Polymarket and Kalshi for operating in the country without a gambling licence, according to an order published in the Spanish state gazette on Tuesday by the Consumer Rights Ministry, which has authority over the country’s gambling watchdog.
The ministry has opened a formal investigation into both companies for allegedly breaching Spanish rules that require online operators offering money-staked wagers on uncertain outcomes to hold administrative authorisation. The suspension is expected to remain in place for three to four months while the probe runs.
The order cites the absence of the technical and consumer safeguards required of licensed operators, including identity verification and access controls intended to keep minors off the platform.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!Spain joins a lengthening list of European jurisdictions to treat prediction markets as a form of gambling. France’s national gaming authority blocked Polymarket in late 2024, ruling that its operation amounted to unlicensed gambling, and the same year Belgium, Poland and Italy issued bans of their own.
