Kalshi Blocks India Access After Crackdown on Prediction Markets

Kalshi blocks Indian users from accessing its U.S.-based prediction markets, citing an updated members’ agreement published on Wednesday. The restriction follows India’s April advisory to block “illegal and blocked” prediction-betting platforms and earlier moves targeting Polymarket. India’s MeitY told ISPs and VPN providers to restrict platforms it says fall under the Promotion and Regulation of Online Gaming Act 2025, arguing that real-money stakes on uncertain outcomes can be treated as prohibited betting, regardless of how operators brand the service. Kalshi prediction markets are now caught in this widening crackdown. The pressure is spreading globally: Spain blocked both Kalshi and Polymarket, and Indonesia restricted Polymarket after event contracts tied to President Prabowo Subianto. Other cited jurisdictions include Singapore, Poland, Portugal, Hungary, Ukraine, and Brazil, while the U.S. also faces federal and state-level legal challenges. For traders, this matters because Kalshi and Polymarket volumes are large and sports contracts are a key driver. Kalshi prediction markets may see reduced India inflows and liquidity as access narrows. Broader crypto market impact looks limited, but sentiment could shift around speculative event trading—especially where crypto rails (including stablecoin settlement) are used.