Spain blocks prediction markets for unlicensed operation

Spain's gambling regulator has ordered a nationwide block on prediction markets Polymarket and Kalshi, initiating disciplinary proceedings against both for operating without the necessary licenses. This action follows a similar move by Indonesia against Polymarket. The Spanish regulator classifies prediction markets as gambling, requiring specific authorization. The blocking is a precautionary measure pending a decision expected in three to four months. The regulator highlighted the absence of mandated identity verification and minor access controls on the unlicensed platforms.