- Prediction market Kalshi added India to its restricted jurisdictions list, bringing the total to 55 blocked countries.
- The move follows India’s government warning VPN providers in April against facilitating access to “illegal and blocked online betting and prediction market platforms.”
- Polymarket and Kalshi, with billions in weekly volume, face growing global bans, including in Spain, Indonesia, and several US states, primarily over sports betting and political contracts.
Prediction market platform Kalshi has added India to its list of 55 restricted jurisdictions, according to a members’ agreement document updated on Wednesday. This development follows a directive from India’s Ministry of Electronics and Information Technology warning VPN providers against enabling access to such platforms in April.
Consequently, India joins a growing roster of countries that have blocked or prohibited prediction markets. Spanish and Indonesian authorities have recently restricted access to Polymarket and Kalshi, while Singapore, Poland, Portugal, Hungary, Ukraine, and Brazil have taken similar actions.
Regulatory scrutiny has intensified, particularly around contracts related to sports and politics. In January, US lawmakers proposed legislation to restrict political betting by government officials after a Polymarket user profited over $400,000 on a contract about Venezuelan leadership.
Meanwhile, Kentucky recently sued five prediction market platforms, accusing them of operating illegal sports betting. Sports betting remains the largest category on both major platforms, accounting for $328 million in daily volume for Kalshi and $196 million for Polymarket, according to data from Defirate.
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