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(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.
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Bally Bet is preparing to hold something of a monopoly in Rhode Island come November, but if neighboring Massachusetts any indication, those in the Ocean State might not have a whole lot to celebrate.
Indonesia President Prabowo’s Early Exit Sparks Outrage, Prediction Market Banned From Nation
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A price per player sportsbook software typically charges $5 and up per player per week while offering everything from odds, live betting, full reporting, 24-7 customer service and even a live dealer online casino.