Synopsis
US-based prediction market Kalshi has now officially restricted Indian users from trading, following government action against such platforms. This move comes weeks after India's IT ministry warned against participating in online prediction markets and blocked access to sites like Kalshi. The government's crackdown aligns with its new online gaming regulations, which ban monetary stake games. Users in restricted areas can still maintain membership but cannot trade event contracts.
US-based prediction market platform Kalshi has added India to its list of restricted jurisdictions, weeks after the Indian government moved to block access to online prediction market websites and warned users against participating in such platforms.
An updated Kalshi member agreement dated June 17 states that users domiciled in, organized in, or located in India are prohibited from trading event contracts on the platform. India now appears among the jurisdictions classified as "Restricted Jurisdictions" under the company's trading rules.
The move comes after the Ministry of Electronics and Information Technology (MeitY) stepped up action against prediction market operators. Kalshi's website has been inaccessible through multiple internet service providers in India since the last week of May, following reports that the government was preparing to block access to the platform.
The development comes against the backdrop of India's new online gaming regime. Parliament passed the Promotion and Regulation of Online Gaming Bill, 2025, last year, banning online games involving monetary stakes while allowing esports and social games to operate under a regulatory framework. The law prohibits online money gaming services, related advertisements and financial transactions linked to such platforms, citing concerns over addiction and financial harm. The government subsequently notified rules under the Act, which came into force on May 1, 2026.
Kalshi and rival platform Polymarket had previously come under scrutiny after Indian users continued to access and trade on the services despite government warnings that they were using "illegal and blocked prediction market and online betting platforms."
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The revised agreement says users located in restricted jurisdictions, including India, cannot trade event contracts on the platform. However, the restriction applies specifically to event contract trading and does not automatically prohibit users from maintaining membership or non-trading access to the platform, subject to applicable laws and company policies.
In April, MeitY wrote to virtual private network (VPN) providers, warning that VPN services were being used to bypass restrictions on blocked prediction market platforms. The ministry said providers enabling access to such services could face legal consequences.
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