The independent research desk for prediction markets and crypto.

Studies, regulatory intelligence and live order books on Polymarket, Kalshi and the crypto exchanges.

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None foundCalifornia orders against Kalshi or PolymarketPrediction markets

Is Kalshi Legal in California? Kalshi, Polymarket and Tribal Land

California has no legal sports betting, yet Kalshi and Polymarket US take Californians' sports contracts. The Ninth Circuit's 16 September 2026 ruling covers tribal land only. What each venue does in California, and what the state has done.

Prediction markets

Polymarket Order Book Depth: 10,000 Contracts Fit 64% of Books

Vultax walked the displayed asks in 7,354 hourly Polymarket order-book snapshots at three order sizes. 100 contracts fit all 2,701 books in range. 10,000 fit 64% of them, at a median 0.25¢ above the best ask, before fees.

Latest reporting

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  1. Regulation

    Switzerland Blocked Four More Domains Carrying Polymarket's Name

    216Entries added to Gespa's blocklist in 2026
  2. Regulation

    Gibraltar's Prediction-Market Register Lists Two Authorised Operators

    2Authorised prediction-market operators in Gibraltar
  3. Regulation

    Polymarket's Dutch Geoblock Came One Day Late. The Penalty Was 420,000 Euros

    €420,000Penalty forfeited by Polymarket's operator

Regulatory intelligence · Europe

One map. The document behind each action.

Open the Europe record →

Prediction-market regulation, country by country: authority actions, written replies and observed access to Polymarket and Kalshi. Select a country to see what the evidence says.

Updated 2026-10-28
24 with a recorded actionNo evidence in this layer
AlbaniaAustriaBelarusBelgiumBosnia and HerzegovinaBulgariaCroatiaCyprusCzechiaDenmarkEstoniaFinlandFranceGermanyGreeceHungaryIcelandIrelandItalyKosovoLatviaLithuaniaLuxembourgMoldovaMontenegroNetherlandsNorth MacedoniaNorwayPolandPortugalRomaniaRussiaSerbiaSlovakiaSloveniaSpainSwedenSwitzerlandTurkeyUkraineUnited Kingdom

Click or tap a country; use arrow keys within the map, or the country selector. Small jurisdictions use point markers. Grey does not mean permitted.

Boundaries: Natural Earth. EU-wide rules are in the EU record.

Czechia

3 recorded actions

Latest recorded action · 23 Oct 2026

Told Vultax that neither Polymarket nor Kalshi had objected or appealed; payment providers have a standing duty concerning accounts on the blacklist, without individual instructions; the reply names no account for either platform

Published written response

Written reply
Ministry of Finance · 2026-10-23
Neither operator has objected or appealed. Payment duties attach to listed accounts, without individual instructions.
Polymarket’s own policy
Not listedDocumentation checked 2026-10-23; access not tested.
Observed network access
No OONI observations in this dataset. Access unknown.
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Source: Vultax, original ministry answers and report

Dated evidence, with each source’s own cutoff. Access observations cover 21 July–19 October 2026. This map is not a determination of lawful access.

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A live view of the Polymarket, Kalshi and crypto order books our studies measure. Open the full terminal for the paper desk, which uses no money.

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Built for the people who write about, study, run and regulate these markets.

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The regulators, on the record.

13 of Europe's authorities are on the record with us about prediction markets, and counting. 10 country reports, below, are based on those written replies; the full country record keeps them all.

All market updates →
  1. SwedenSpelinspektionenNo investigation or prohibition of Polymarket or Kalshi; licensing depends on the activity and market.
  2. BelgiumKansspelcommissieNo payment-provider instructions for either operator; reports on blocking effectiveness can be followed up.
  3. European UnionESMAThe September report does not estimate EU retail participation; API data reflect global trading.
  4. United KingdomFCAIts Perimeter Report position has not changed; consumers can check firms on the FCA tools.
  5. CzechiaMinistry of FinanceNeither operator has objected or appealed. Payment duties attach to listed accounts, without individual instructions.
  6. LatviaState Revenue ServicePolymarket's website is blocked; payments to its operator are not. Two Kalshi companies are on the payment list.
  7. MaltaMalta Gaming AuthorityPrediction markets may fit Type 2 fixed-odds or Type 3 peer-to-peer licences; individual applications remain confidential.
  8. GermanyGGLProceedings confirmed against Polymarket and Kalshi. Election bets cannot be licensed.
  9. SpainDGOJWhether Polymarket is blocked depends on your network. We measured it.
  10. LithuaniaGaming Control AuthorityPolymarket subject to access and payment measures; no official data or decisions on other prediction-market sites.
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Questions

How figures are computed is in the methodology. Anything else: contact.

What is Vultax Research?
A research body in Tallinn that measures prediction markets and crypto markets and publishes what it finds, with a terminal that shows the same markets live.
How is it funded?
Vultax is independently owned and self-funded. Our public studies, terminal and research tools are currently free to access. We welcome institutional enquiries about research, data and recurring measurements. Any future paid work will follow our published independence and disclosure rules.
Does Vultax trade?
No. We hold no positions on any market we measure. The terminal trades on paper only.
Can I use the data?
Yes, with a link to the study. Data we hold under licence is shown within that licence and says so.