Another Polymarket ban

Spain temporarily banned the US-based prediction markets Polymarket and Kalshi on Tuesday, as well as its rival Kalshi, arguing that they were operating without a gambling license. The ban will last three to four months, pending a review from the country’s gambling watchdog. The move comes as other bans against Polymarket, in particular, are stacking up around the world. They aren’t all necessarily country-wide: in the United States, Minnesota recently became the first state to ban prediction markets. Nonetheless, questions are growing around these prediction companies, as a growing number of insider trading cases come to light.