Spain has become the latest country to block prediction markets Kalshi and Polymarket.\u00a0<\/p>\n
Spain\u2019s Ministry of Consumer Affairs has blocked the prediction markets and begun disciplinary proceedings against Polymarket and Kalshi.<\/p>\n
The European country\u2019s internet service providers have been ordered to block access to the two platforms.<\/p>\n
More From Cryptoprowl:<\/p>\n
Spain\u2019s gambling regulator, the Directorate General for Gambling Regulation (DGOJ), claims the companies offer betting products tied to uncertain future events without the proper licenses.\u00a0<\/p>\n
Kalshi and Polymarket dominate prediction market trading and betting activity.\u00a0<\/p>\n
In the past 30 days, Kalshi recorded $5.9 billion U.S. in trading volume while Polymarket processed $3.8 billion U.S. in bets on real-world events such as sports and political elections.<\/p>\n
Combined, the two platforms represent nearly 90% of the roughly $11 billion U.S. in trading volume among prediction markets.<\/p>\n
Spain is the latest jurisdiction to ban or block the leading prediction markets as regulators debate whether the products should fall under gambling or financial market rules.<\/p>\n
Indonesia blocked Polymarket earlier this week under its online gambling regulations, as did India.\u00a0<\/p>\n
Other countries such as Taiwan, Thailand, China and Japan have restricted the two platforms, while Ukraine blocked them with no legal way for the companies to come back.<\/p>\n
Polymarket\u2019s list of blocked countries also includes Belgium, Australia, France, the United Kingdom, and Germany.\u00a0<\/p>\n
Spanish authorities say that unlicensed prediction markets lack safeguards such as identity checks, protections for minors, and systems to help prevent gambling addiction.<\/p>\n
Both Kalshi and Polymarket are privately held and their stocks don\u2019t trade on public exchanges.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Spain has become the latest country to block prediction markets Kalshi and Polymarket.\u00a0 Spain\u2019s Ministry of Consumer Affairs…\n","protected":false},"author":2,"featured_media":29877,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[14882,14976,14881,14876,17],"class_list":["post-29876","post","type-post","status-publish","format-standard","has-post-thumbnail","category-spain","tag-kalshi","tag-ministry-of-consumer-affairs","tag-polymarket","tag-prediction-markets","tag-spain"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/29876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/comments?post=29876"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/posts\/29876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media\/29877"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/media?parent=29876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/categories?post=29876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/spain\/wp-json\/wp\/v2\/tags?post=29876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}