Prediction market platform Kalshi has added India to its growing list of restricted jurisdictions, bringing the total to 55 countries now blocked from the service.
The update comes months after India’s Ministry of Electronics and Information Technology warned VPN providers in April to stop facilitating access to illegal and blocked online betting platforms.
India isn’t alone in pushing back. Spain blocked both Kalshi and Polymarket in May over local gambling laws. Indonesia followed suit after Polymarket listed contracts on whether President Prabowo Subianto would leave office before his term ended. Singapore, Poland, Portugal, Hungary, Ukraine, and Brazil have all restricted or banned prediction market platforms.
Political betting has drawn particular scrutiny. In January, US lawmakers proposed legislation to restrict political prediction market trading by government officials after a Polymarket user netted over $400,000 on a contract tied to the removal of Venezuelan President Nicolás Maduro, fueling insider trading concerns. Kentucky recently became the latest state to sue five prediction market platforms, accusing them of operating unlicensed sports betting operations.
The pattern is clear: as prediction markets grow, regulators worldwide are paying closer attention.
