Spain joins growing list of countries shutting out Polymarket and Kalshi
The platforms were blocked for operating without licenses required by Spanish gambling law, citing a lack of safeguards for minors and self-excluded gamblers....
Key takeaways
- 1Spain blocked Polymarket and Kalshi for operating without gambling licenses, citing lack of safeguards for minors and self-excluded gamblers.
- 2Kalshi and Polymarket combined control 88% of the $11 billion prediction market trading volume, with Kalshi at $5.9 billion and Polymarket at $3.8 billion.
- 3Spain joins Indonesia, India, and 10+ other countries in restricting prediction markets as regulators debate whether they fall under gambling or financial rules.
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Why it matters
Prediction markets face intensifying global regulatory crackdowns, affecting Indian retail investors' access to major platforms like Polymarket. India's ban aligns with broader international scrutiny questioning whether crypto-based prediction products should be classified as gambling rather than financial instruments.
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