Indonesia Blocks Polymarket, Spain Orders Restrictions on Prediction Markets Over Gambling Laws

Indonesia blocked Polymarket after authorities classified the platform as illegal online gambling, days after a market predicting Indonesian President Prabowo Subianto's early departure gained online attention, according to Reuters. Officials said betting on unresolved outcomes violated national regulations regardless of blockchain technology use.

Spain simultaneously ordered nationwide restrictions on Polymarket and Kalshi, citing unlicensed operations and inadequate consumer protections including missing identity verification and safeguards for minors. Both regulators argued prediction markets offering wagers on uncertain future events must comply with gambling laws and licensing requirements.