Spain's Preventive Blocking of Access to Polymarket and Kalshi

On May 26, Spain’s Ministry of Consumer Affairs initiated disciplinary proceedings against prediction market platforms Polymarket and Kalshi, and ordered internet service providers to block user access to both sites. A notice published in Spain’s official government bulletin states the companies offered products tied to uncertain future events without securing the licenses required under Spanish law. Local media outlets report regulators believe their business activities violate Spanish regulations. Spanish officials say preventive blocking measures will remain in effect throughout the case process, which is expected to take three to four months. Regulators added they were unable to contact the companies at their known overseas addresses, so they opted to issue official public announcements directly and implement access blocks.