Spain blocks Polymarket and Kalshi as it investigates prediction market platforms
Key takeaways
- US states have tried something similar, but the federal government isn't having any of it.
- Unsplash/SLNC The Spanish government has issued an order to block the gambling platforms Polymarket and Kalshi, according to a report by The Wall Street Journal.
- The country's ministry in charge of consumer affairs said it blocked the websites as a precautionary measure pending an official investigation.
US states have tried something similar, but the federal government isn't having any of it.
Unsplash/SLNC The Spanish government has issued an order to block the gambling platforms Polymarket and Kalshi, according to a report by The Wall Street Journal. The ban is being instituted as the country investigates the legality of prediction market platforms, as they operate in Spain (and everywhere else) without a gambling license.
The country's ministry in charge of consumer affairs said it blocked the websites as a precautionary measure pending an official investigation. This investigation will determine if the platforms violate Spain's gambling laws. It's set to complete within the next four months and could mandate that these companies require specific administrative licenses to operate.