India Tightens Grip On Prediction Markets As Polymarket Goes Offline

India is cracking down on online prediction markets. Many users in the country can no longer access the crypto-linked betting platform Polymarket.

Reports say the government may soon take similar steps against the US-based platform Kalshi as officials increase their focus on online betting and crypto-related speculation.

This action comes after the Ministry of Electronics and Information Technology (MeitY) issued a warning in April. The advisory told VPN providers and internet companies not to let users access blocked prediction and betting sites.

Officials believe these platforms break India’s Promotion and Regulation of Online Gaming Act 2025, which bans online money gaming.

Prediction markets let people bet real money on things like elections, world events, sports, and crypto prices. These platforms became especially popular during the 2024 US presidential election and have also been used a lot for IPL cricket betting.

Indian officials have often warned about gambling addiction, financial losses, money laundering, and money leaving the country because of crypto platforms.

Reports say the government might use Section 69A of the Information Technology Act, the same rule used to block TikTok, to stop access to these services.

This crackdown is part of India’s careful approach to the crypto industry. The country already has a 30% tax on crypto profits and a 1% tax on each transaction. Regulators are also making rules stricter to prevent money laundering with digital assets.

Polymarket, Kalshi to go dark in India as Centre moves to formally block prediction markets defying ban

Vrinda Tulsian @vrinda_tulsian reports

Illustration: Jeyasri AT @jeyasriat #ThePrintExclusivehttps://t.co/oYidH2EYyC

— ThePrintIndia (@ThePrintIndia) May 21, 2026

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