Match ends, Las Palmas 2, Real Madrid 2.
Substitute Sergio Araujo scored a late equaliser for Las Palmas as Real Madrid failed to win for the second successive game.
The visitors took the lead through Marco Asensio's header after Nacho's shot was saved by Javi Varas.
Their advantage lasted five minutes before midfielder Tana equalised for the Canary Islanders with a low finish.
Karim Benzema restored Real's lead three minutes after coming on, only for Araujo to earn the hosts a point.
Real would have gone three points clear at the top of La Liga with victory but their lead is now just one point after failing to win for the second game.
Barcelona had earlier won 5-0 at Sporting Gijon to temporarily replace Real at the top of the table.
Real pay price for lacklustre display
Araujo's equaliser five minutes from time summed up Real's night as Sergio Ramos and Kiko Casilla got in a tangle, allowing the substitute to run the ball into the net.
Las Palmas' players celebrated wildly at the final whistle while the visitors, for whom Cristiano Ronaldo was substituted, were left to wonder how they had twice allowed the lead to slip.
After winning 16 La Liga games in succession, Real have dropped four points in a week and must regroup before facing Borussia Dortmund in the Champions League in Germany on Tuesday.
With one eye on midweek, as well as a number of injuries, manager Zinedine Zidane rotated his squad.
Nacho came in for the injured Marcelo at left-back, and Toni Kroos was pressed into service as the holding midfielder with Casemiro out.
But with Alvaro Morata joining Gareth Bale and Ronaldo in attack, Real should have had enough quality to see off their opponents.
However, Ronaldo was far from his best and looked unhappy as he was replaced by Lucas Vazquez five minutes after Benzema had made it 2-1.
Another concern for Zidane was his side's defending - Real have managed just two clean sheets in their past seven La Liga and Champions League games.
While Ramos and Casilla will not want to see replays of the home team's second equaliser, Raphael Varane's poor headed clearance led to Tana's well-taken goal.
Las Palmas were spirited throughout and are fifth in the table, four points behind leaders Real.
- 13Varas Herrera
- 12Macedo Rocha Machado
- 5García SantanaBooked at 54mins
- 16Artiles Oliva
- 23Castellano Betancor
- 4Gómez Umpiérrez
- 15Mesa QuevedoBooked at 23mins
- 11Figueroa CabreraSubstituted forAraujoat 68'minutes
- 21Viera RamosSubstituted forEl Zharat 54'minutes
- 24DomínguezBooked at 90mins
- 9LivajaSubstituted forLemosat 88'minutes
- 6Montoro Sánchez
- 8El Zhar
- 20Del Pino Ramos
- 22Oliveira Lopes
- 2CarvajalBooked at 77mins
- 8KroosBooked at 58mins
- 20AsensioSubstituted forBenzemaat 64'minutes
- 21MorataSubstituted forIscoat 80'minutes
- 7Cristiano RonaldoSubstituted forVázquezat 72'minutes
- Javier Estrada Fernández
- Shots on Target
Second Half ends, Las Palmas 2, Real Madrid 2.
Attempt missed. Isco (Real Madrid) header from the centre of the box is just a bit too high. Assisted by Daniel Carvajal.
Attempt missed. Karim Benzema (Real Madrid) right footed shot from the centre of the box is high and wide to the right. Assisted by Daniel Carvajal with a cross.
Tana (Las Palmas) is shown the yellow card.
Foul by Dani Castellano (Las Palmas).
Lucas Vázquez (Real Madrid) wins a free kick in the defensive half.
Offside, Real Madrid. Sergio Ramos tries a through ball, but Karim Benzema is caught offside.
Attempt saved. Luka Modric (Real Madrid) right footed shot from outside the box is saved in the centre of the goal. Assisted by Lucas Vázquez.
Foul by Tana (Las Palmas).
Lucas Vázquez (Real Madrid) wins a free kick on the right wing.
Substitution, Las Palmas. Mauricio Lemos replaces Marko Livaja.
Goal! Las Palmas 2, Real Madrid 2. Sergio Araujo (Las Palmas) right footed shot from very close range to the bottom left corner.
Attempt saved. Sergio Araujo (Las Palmas) right footed shot from a difficult angle on the left is saved in the centre of the goal. Assisted by Vicente Gómez with a headed pass.
Offside, Real Madrid. Toni Kroos tries a through ball, but Gareth Bale is caught offside.
Marko Livaja (Las Palmas) wins a free kick on the right wing.
Foul by Lucas Vázquez (Real Madrid).
Substitution, Real Madrid. Isco replaces Álvaro Morata.
Corner, Real Madrid. Conceded by David García.
Daniel Carvajal (Real Madrid) is shown the yellow card for a bad foul.