Are Polymarket and Kalshi legal in Europe? EU country-by-country guide
By TomorrowAlpha Editorial Desk · Published · Updated
Generally no. There is no EU-wide licence for prediction markets, and ESMA said in September 2026 that the largest platforms lack the EU authorisation needed to market event contracts. Polymarket is blocked or blacklisted in France, Italy, Spain, Belgium, Portugal, Poland and the Netherlands, and Germany says such bets are unlicensable. Kalshi restricts eight EU countries.
At a glance
- EU-level view
- ESMA (Sep 2026): major platforms lack EU authorisation
- Joint statement
- 17 Jun 2026 — BE, FR, DE, IT, NL, PL, PT, ES, CH regulators
- Kalshi restricted in
- BE, BG, FR, HU, IE, IT, PL, PT
- Licensed in Europe
- No EU licence; ADI Predictstreet holds a Gibraltar licence
Where is Polymarket legal in Europe?
| Country | Polymarket | Kalshi | Regulator action |
|---|---|---|---|
| France | ISP-blocked | Restricted | ANJ geo-block (Nov 2024), ISP block order (16 Jul 2026) |
| Germany | Blocked by platform | Not on restricted list | GGL: non-sports bets unlicensable; participation can be criminal |
| Italy | Blacklisted & ISP-blocked | Restricted | ADM relisted 10 Jul 2026; block from 27 Jul |
| Spain | Website block ordered | Website block ordered | DGOJ sanction proceedings, 26 May 2026 |
| Belgium | Blacklisted | Restricted | Gaming Commission blacklist, 30 Jan 2025 |
| Netherlands | Trading restricted | Not on restricted list | Ksa cease order with penalties (Jan 2026) |
| Portugal | ISP-blocked | Restricted | SRIJ order, 19 Jan 2026 |
| Poland | Domain register / blocked | Restricted | Ministry of Finance register, Jan 2025 |
| Ireland, Hungary, Bulgaria | Check locally | Restricted | Kalshi member agreement |
| Switzerland (non-EU) | On Gespa blocklist | Restricted | DNS block since 26 Nov 2024 |
The June 2026 joint statement by nine European regulators
On 17 June 2026, at the start of the FIFA World Cup, gambling regulators from Belgium, France, Germany, Italy, the Netherlands, Poland, Portugal, Spain and Switzerland issued their first coordinated declaration on prediction markets. They said platforms operating without a local licence are illegal in their jurisdictions, flagged weak age and identity checks, missing deposit limits and insider-trading risk, and committed to joint enforcement.
What did ESMA say about prediction markets?
ESMA's September 2026 risk report said event contracts can be financial instruments under MiFID II, crypto-assets under MiCA or gambling under national law, depending on design — and that marketing them in the EU generally requires authorisation the largest platforms do not hold. In July 2026 ESMA also indicated that binary contracts on financial or economic outcomes can fall under national retail bans on binary options.
What can EU residents legally use?
- Manifold Markets (play money) — accessible across the EU.
- Nationally licensed sportsbooks — fixed-odds betting, where politics markets are permitted (rare).
- TomorrowAlpha — follow live Polymarket and Kalshi odds for free as information: live markets.
Follow live odds on TomorrowAlpha →
Frequently asked questions
Is Polymarket legal in the EU?
No EU-wide authorisation exists. Polymarket is blocked or blacklisted in France, Italy, Spain, Belgium, Portugal, Poland and restricted in the Netherlands and Germany.
Is Kalshi available in Europe?
Kalshi restricts Belgium, Bulgaria, France, Hungary, Ireland, Italy, Poland and Portugal, and Spain has ordered its website blocked. Absence from Kalshi's list does not make it legal locally — national regulators consider it unlicensed gambling.
Will Polymarket get an EU licence?
Polymarket has lobbied for financial-services treatment in Europe, but no EU authorisation had been granted as of October 2026.
Sources
Related guides
Editorial information, not legal or financial advice. Regulations change frequently — last verified 12 Oct 2026.