Spain has banned Polymarket and Kalshi nationwide for operating without licenses.

CoinFeed reported on May 26 that, according to The Block, Spain's gambling regulator has ordered a nationwide shutdown of prediction market platforms Polymarket and Kalshi, and initiated disciplinary proceedings against them for failing to obtain the necessary administrative permits to operate in Spain. The announcement has been published in the Spanish Official Gazette. This shutdown is a preventative measure before the outcome of the proceedings, which are expected to last three to four months. Spain classifies platforms that bet on uncertain future outcomes as gambling businesses and requires operators to have compliance mechanisms such as identity verification, minor access control, and self-exclusion.