India Enforces Blanket Ban on Global Prediction Markets, Blocking Polymarket and Kalshi

The error screens appearing on Indian web browsers this week are the first visible signs of a quiet bureaucratic execution. India has effectively severed domestic access to Polymarket, the decentralized betting platform that grew into a global phenomenon during the recent U.S. election cycle.

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The blackout stems from a strict application of New Delhi’s evolving digital commerce laws. By classifying prediction platforms as illegal online money gaming operations, regulators have effectively grouped sophisticated event-trading markets with standard digital gambling websites.

Regulators Target Cross-Border Financial Speculation

Internet service providers implemented the block following direct orders from the Ministry of Electronics and Information Technology. This move was foreshadowed by an April 25 government advisory directed at virtual private network providers, which noted that domestic users were routinely bypassing existing web blocks to participate in foreign wagering pools.

Polymarket is not the only target. Ministry officials are reportedly finalizing a similar blocking order against Kalshi, a U.S.-regulated prediction market. Targeting a platform overseen by American commodity regulators indicates that India intends to enforce a blanket ban on all real-money event trading, regardless of whether the operators hold regulatory credentials abroad.

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The Legal Framework Disabling Event Trading

These platforms allow users to wager on binary real-world events such as political races, policy changes, or macroeconomic indicators with real money. Supporters of these markets believe they provide valuable insight into market sentiment and allow for the ability to hedge against potential financial loss; however, Indian regulators see them through a different prism. The Promotion and Regulation of Online Gaming Act 2025 prohibits anything that allows real-money betting on uncertain future events.

The sudden enforcement of this prohibition has resulted in a large interruption to the previously fast-growing user base. Local participants have relied on these platforms for months to speculate on events outside of India. The numerous constant failures to load any of these platforms locally confirm that the technical barriers imposed by the Indian government are in full effect and have effectively excluded Indian capital from participating in the larger global prediction market ecosystem.

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Source: igamingexpress.com