Spain bans Polymarket and Kalshi, initiates disciplinary proceedings

According to The Block, the Spanish gambling regulatory agency has blocked prediction market platforms Polymarket and Kalshi on the grounds that they have not obtained administrative licenses. The announcement was published in the official Spanish gazette, and the blockade is a preventive measure before the results of the program are announced. It is expected that the program will last for three to four months. Spain classifies such platforms as gambling businesses and requires compliance mechanisms such as identity verification, access control for minors, and self exclusion.