Spain also blocks access to Polymarket platform

Spain has issued an order to block access to prediction market platforms Polymarket and Kalshi, according to a Wall Street Journal report cited by Engadget on Tuesday (26 May). The ban on accessing Polymarket and Kalshi was imposed as Spain investigates the legality of prediction market platforms operating in the country without gambling licenses. The Spanish government stated that blocking the websites of Polymarket and Kalshi is a precautionary measure while awaiting the official investigation to determine whether the platforms violate gambling laws. The investigation into the platforms is scheduled to conclude within four months. Platform providers may be required to obtain specific administrative licenses to operate based on the investigation’s outcome. The state of Minnesota will ban prediction market operations from 1 August 2026, while Rhode Island, Illinois, Arizona, Connecticut, Nevada, and New Jersey are questioning the legality of such platforms. However, the US Commodity Futures Trading Commission (CFTC) has sued states attempting to ban or regulate prediction markets, asserting that it alone has jurisdiction over these platforms. Polymarket and Kalshi were recently valued at $22 billion and $15 billion respectively. Director General of Digital Space Oversight at Indonesia’s Ministry of Communications and Digital, Alexander Sabar, stated that prediction market platforms constitute online gambling. He explained that using these platforms involves monetary betting and speculation on uncertain outcomes, which contravenes Indonesia’s existing legal provisions. “The government will not tolerate any form of online gambling in Indonesia,” said Alexander. Besides Indonesia, countries such as Singapore, Brazil, and India have also blocked access to Polymarket.