India’s Ministry of Electronics and Information Technology (MeitY) has reportedly issued a blocking order against prediction market platform Polymarket and is moving to restrict access to Kalshi, signaling a broader crackdown on offshore betting and event-contract platforms operating in the country.
What the reported MeitY action covers
According to a report from the Indian Express, MeitY has directed internet service providers to block Polymarket, which allows users to wager on the outcomes of real-world events. The order also reportedly targets Kalshi as a next step, though that platform has not yet been formally blocked.
The distinction matters. Polymarket faces an active blocking order, while Kalshi is described as a forthcoming target. Both platforms operate primarily outside India, but Indian users have accessed them through VPNs and direct browser connections.
MeitY has also warned VPN providers that they must make reasonable efforts to block access to banned platforms or risk losing their legal safe harbour protections under Indian IT law. This extends enforcement beyond ISPs to the tools users rely on to circumvent geographic restrictions.
KEY POINTS
- MeitY has reportedly issued a blocking order against Polymarket in India
- Kalshi is reportedly the next platform targeted, but has not yet been blocked
- VPN providers face loss of safe harbour protections if they do not comply with blocking directives
Why this matters for prediction markets in India
For Indian users, the immediate effect is restricted access to two of the largest prediction market platforms globally. Polymarket already lists India among its geographically restricted regions, but enforcement at the ISP and VPN level represents a more aggressive posture than platform-side geofencing alone.
The VPN advisory is particularly notable. By threatening safe harbour removal for non-compliant VPN providers, MeitY is attempting to close the most common workaround users employ to access blocked platforms.
For the broader prediction market and crypto-adjacent sector, India’s move carries signal value. Prediction markets sit at the intersection of gambling regulation, financial derivatives oversight, and crypto enforcement, areas where Indian authorities have shown increasing willingness to act. The crackdown on offshore platforms comes as other jurisdictions take divergent paths; Hong Kong recently advanced its stablecoin regulatory framework with a more permissive approach to digital asset products.
Kalshi, which operates as a CFTC-regulated exchange in the United States, presents a different regulatory profile than Polymarket. Whether Indian authorities draw distinctions based on a platform’s home-country regulatory status remains unclear from the available reporting.
The enforcement action also raises questions about how liquidity flows in decentralized markets could be affected if more countries follow India’s lead in blocking prediction platforms. Meanwhile, the approach echoes a broader global trend of regulators scrutinizing how retail users interact with speculative crypto-adjacent products across borders.
Whether ISP-level and VPN-level blocking proves effective at meaningfully reducing Indian traffic to these platforms will depend on enforcement follow-through and technical implementation.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
