Spain’s gambling regulator has ordered internet service providers to block access to Polymarket and Kalshi, making it one of the latest countries to treat prediction markets as unlicensed gambling operations rather than financial innovation.
The Dirección General de Ordenación del Juego (DGOJ) published the orders on May 26 in Spain’s official state gazette, directing ISPs to restrict access to both platforms for a period of three to four months while investigations proceed. The regulator cited a familiar list of complaints: no proper licensing, inadequate identity verification, and insufficient protections for minors and self-excluded gamblers.
A $9.7 billion sector faces a shrinking map
Polymarket and Kalshi together processed more than $9.7 billion in trading volume over the past 30 days, commanding roughly 88% of all prediction market activity during that stretch. Kalshi alone accounted for approximately $5.9 billion of that total, with Polymarket handling around $3.8 billion.
Spain joins a growing roster of jurisdictions that have decided prediction markets look a lot more like betting shops than Bloomberg terminals. France moved first among European nations, restricting access in late 2024. Portugal and Hungary followed in early 2026. India and Indonesia have also taken action.
