India cracks down on prediction markets: Polymarket goes dark, Kalshi could be next
CoinDesk
India has blocked access to decentralized betting platform Polymarket, with Kalshi potentially facing similar regulatory action under strict local anti-gambling laws.Summary
The Indian government has effectively blocked access to Polymarket, the world's largest decentralized prediction market, citing domestic prohibitions on online betting. This move follows an advisory from the Ministry of Electronics and Information Technology (MeitY) targeting platforms that facilitate wagering on event outcomes. Reports suggest that Kalshi, another prediction market, may face a similar ban shortly. These actions reflect India’s broader, restrictive regulatory approach toward cryptocurrencies and digital assets, which are frequently categorized as speculative gaming and subjected to heavy taxation and strict AML oversight.
(Source：CoinDesk)