The Ministry of Social Rights, Consumer Affairs and the 2030 Agenda has opened a sanctioning file against Polymarket and Kalshi, two prediction platforms where bets are placed, for a possible violation of gaming regulations. They would be operating in Spain without the mandatory administrative authorization.
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Along with this file, managed by the Directorate General for the Regulation of Gambling (DGOJ), the ministry has issued an order to block the websites of these platforms in Spain as a precautionary measure until the final resolution of the file.
The file has been notified in the BOE due to inability to notify the operators
The sanctioning file was notified this Tuesday through publication in the Official State Gazette in accordance with current administrative regulations, after attempts to directly notify the operators at their known addresses abroad were unsuccessful.
The procedure is expected to last between 3 and 4 months until the final resolution. Prediction markets are platforms where users buy and sell shares on the prediction of the outcome of future events, assigning prices that reflect the probability of one or another outcome occurring in those events. For this reason, it is also known as cross betting. Unlike traditional betting, these platforms allow users to operate among themselves within a market, acting as intermediaries, facilitating transactions and charging commissions.
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The procedure is expected to last between 3 and 4 months
These markets are used to estimate the probability of various events, such as elections, economic indicators, sports results, or weather phenomena, generating interaction collectively.
The DGOJ reminds that in Spain, in line with other European jurisdictions, prediction markets are considered games of chance when betting on uncertain future outcomes. Therefore, their operation in Spanish territory requires obtaining a specific administrative license.
Likewise, the DGOJ warns that unauthorized operators lack the technical and regulatory guarantees required in Spain, including identity verification systems, mechanisms to control access for minors and self-excluded or banned players, or the necessary supervision standards for the protection of users.
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