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Spain Blocks Prediction Markets Polymarket, Kalshi Over Lack of Gambling Licences
(Reuters) - Spain's Consumer Rights Ministry temporarily banned so-called prediction markets Polymarket and Kalshi for operating in the country without a gambling licence, the official state gazette showed on Tuesday.
In a statement, the ministry said its gambling watchdog had opened a probe into the U.S.-based companies for allegedly breaching local rules by lacking mandatory administrative authorisation.
The ban will last an estimated three or four months until the probe's completion, it said.