Polymarket, Kalshi Hit New Roadblock In Spain: Regulator Opens Probe Over Law Breaches
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Polymarket and Kalshi have been hit with mounting regulatory scrutiny, and Spain is now the latest jurisdiction to step in.
Key facts
In the US, Representative James Comer announced a formal investigation into the duo of prediction market platforms
Spain’s Directorate General for the Regulation of Gambling launched a sanctioning process targeting Polymarket and Kalshi
The Spanish action follows pressure on Polymarket and Kalshi elsewhere, making it an unusually tough month for the sector
The probe was reportedly prompted by a series of suspicious trades linked to classified US military operations and geopolitical events
Summary
Spain’s Directorate General for the Regulation of Gambling launched a sanctioning process targeting Polymarket and Kalshi. Spain’s regulator framed the action around allegations that the companies are operating without the proper authorization. The accusation centers on the claim that Polymarket and Kalshi are present in Spain without the mandatory administrative license. Under that interpretation, platforms operating in Spanish territory must obtain a specific administrative license.