India Blocks Polymarket, Moves to Restrict Kalshi Under Online Gaming Prohibition
Talik Evans
- 2 min read
Image credit: Shutterstock
Key Takeaways
- India’s MeitY blocked Polymarket and is reportedly preparing a blocking order for Kalshi, citing the platforms as prohibited online money gaming services under the Promotion and Regulation of Online Gaming Act 2025.
- The directive requires internet service providers to terminate access to prediction markets, with users who attempt to visit Polymarket met with a connection error.
- The crackdown extends broader regulatory pressure on crypto in India, where a 30% tax on gains, a 1% transaction tax, and AML oversight are already in place, and Parliament recently met with Binance, WazirX, and Zebpay over capital outflow concerns.
India has blocked access to Polymarket, the world’s largest decentralized prediction market platform, following a government directive requiring internet service providers to cut off user access to what authorities classify as prohibited online money gaming platforms. A blocking order for U.S.-regulated rival Kalshi is also reportedly in preparation, according to local media. This is one of the most significant government actions against crypto-adjacent trading platforms in the country.
MeitY Directive Targets Prediction Markets as Prohibited Platforms
The Ministry of Electronics and Information Technology issued an advisory on April 25 directed at VPN service providers, warning that local users were continuing to access “illegal and blocked prediction market and online betting platforms” despite “domestic prohibitions.”
The directive required internet service providers to terminate access to prediction markets, with Polymarket among the primary targets. Users attempting to visit the site are met with the message: “This site can’t be reached. Check if there is a typo in polymarket.com.” Refreshing the page does not resolve the connection issue.
India’s Online Gaming Act Prohibits Prediction Market Activity
The Indian government classifies prediction market activity as online money gaming, placing it under a category that is completely prohibited under the Promotion and Regulation of Online Gaming Act 2025. Prediction markets allow users to wager real money on the outcomes of binary events, including referendums, financial asset price movements, and election results.
The platforms saw a significant rise in global usage during the 2024 U.S. presidential election, becoming one of the most widely used venues for wagering on political outcomes.
Kalshi, a prediction market platform regulated by the U.S. Commodity Futures Trading Commission, remains accessible in India as of publication.
However, local media reports, citing an anonymous source within MeitY, claim the agency has “already issued a blocking order to Polymarket and are in the process of issuing an order to Kalshi as soon as Friday.” CoinDesk, which first reported the story, said it reached out to both platforms for comment.
India’s Crypto Crackdown Extends Beyond Prediction Markets
The blocking orders come as Indian regulators have been increasing scrutiny across the broader crypto sector. India’s Parliamentary Standing Committee on Finance met with representatives from Binance, WazirX, and Zebpay in Delhi on May 20 to discuss regulations and taxation for the virtual digital assets industry, where committee members raised concerns over what they described as massive capital outflows from the country through cryptocurrency transactions.
The Indian government has previously implemented a 30% flat tax on crypto gains, a 1% tax deducted at source on all transactions, and brought the sector under Anti-Money Laundering and Counter Financing of Terrorism oversight through the Financial Intelligence Unit.
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Talik Evans
Journalist and Financial Analyst
Talik Evans is a financial writer and crypto researcher with a growing focus on digital assets, Bitcoin markets, and blockchain innovation. Since 2021, she has been exploring the world of cryptocurrency, writing about everything from exchange comparisons to regulatory updates and security practices.