Czech Republic adds Kalshi to blocked gambling operators list
Prague's Ministry of Finance has ordered ISPs to block Kalshi within 15 days, following a similar move against Polymarket in July.
The Czech Republic's Ministry of Finance has placed Kalshi on its list of unauthorised gambling operators, triggering a statutory deadline for internet service providers to block the US prediction markets firm.
The ministry made the designation on 30 September, according to SBC News. Under Czech law, ISPs have 15 days from publication of a prohibition order to cut access, meaning users in the country are expected to lose conventional access to Kalshi from Thursday 15 October 2026.
The order follows a near-identical action taken in July against Polymarket, Kalshi's main rival in the prediction markets space. Czech authorities regard both platforms as offering betting products dressed up as investment tools, a position SBC News reports is shared by regulators in Belgium, France, Romania, Spain and Germany.
SBC News understands the case against Kalshi was referred to the authorities by the Czech Institute for Gambling Regulation (IPRH), a body that represents more than 90% of the country's regulated gambling sector.
IPRH director Jan Řehola said the Polymarket listing had set an important precedent rather than closing the issue, and that Kalshi's addition to the list shows the same approach now being applied in practice. He argued that what counts is the substance of a product rather than its label, adding that someone risking money on the uncertain outcome of a real-world event should not escape the rules simply because the bet is termed a contract or a financial instrument.
In the United States, Kalshi and Polymarket have positioned their event contracts as financial instruments rather than gambling products, operating under federal oversight from the Commodity Futures and Trading Commission. European regulators have largely taken a different view, treating the contracts as gambling and blocking access until operators secure a licence.
Gibraltar has taken a third path, becoming the first jurisdiction to introduce a dedicated regulatory framework specifically for prediction markets. SBC News notes this remains an outlier, with most of Europe maintaining a hostile regulatory stance.
IPRH's position echoes a recent statement from The European Lotteries, which has also warned that new products cannot sidestep existing player protection and market supervision rules through different terminology.
Despite the restrictions, Kalshi's business continues to grow. The firm recorded trading activity worth around $60bn last month, according to DeFi Rate figures cited by SBC News, and is reportedly seeking fresh capital at a valuation of approximately $40bn.
Speaking at this week's SBC Summit Lisbon, Kalshi's Chief Risk Officer Udesh Jha said the company would love to expand in Europe. Gibraltar's Gambling Commissioner, Andrew Lyman, told the same event that regulators fighting to ban or block such products are working against consumer demand, arguing it would be better to regulate them instead.
SBC News has asked IPRH whether it considers the regulated Czech gambling sector to be in denial over consumer appetite for prediction markets.