Polymarket is no longer reachable for users in India. The site shows a connection error saying the page cannot be reached, and repeated refresh attempts do not restore access, pointing to an effective local block on the decentralized prediction market platform.
The disruption follows an April 25 advisory issued by India’s Ministry of Electronics and Information Technology, or MeitY, to VPN service providers. In that notice, the ministry said local users were still reaching “illegal and blocked prediction market and online betting platforms” despite domestic prohibitions. Under the directive, internet service providers were required to terminate access to prediction market platforms, with Polymarket listed among the main targets.
Kalshi remains online for now
Kalshi, which is regulated by the U.S. Commodity Futures Trading Commission, is still accessible in India at the time of reporting. That may not last. Local media, citing an anonymous source inside MeitY, said the agency had already issued a blocking order against Polymarket and was preparing to issue one against Kalshi as soon as Friday. CoinDesk said it had contacted both Polymarket and Kalshi for comment.
Prediction markets let users stake real money on binary outcomes tied to events such as referendums, elections, and moves in financial asset prices. These platforms drew major global attention during the 2024 U.S. presidential election, when they became a widely watched venue for hedging or speculating on political outcomes.
India treats prediction markets as online money gaming
The Indian government classifies activity on these platforms as online money gaming. That places them in a category that is fully prohibited under the Promotion and Regulation of Online Gaming Act 2025. The classification helps explain why the enforcement action is aimed directly at access to the platforms themselves.
The move also fits India’s broader approach to crypto. Authorities have maintained a restrictive stance centered on financial stability and capital controls rather than sector growth. New Delhi has used heavy taxation that critics often describe as a shadow ban, including a flat 30% tax on gains and a 1% tax deducted at source on all transactions, measures that have sharply reduced domestic trading activity.
India’s Ministry of Finance has also pushed to bring the sector under strict Anti-Money Laundering and Counter-Strike Financing supervision through the Financial Intelligence Unit. That climate has led many local crypto startups to relocate to jurisdictions such as Dubai and Singapore, while officials and the Reserve Bank of India continue to signal that they see private cryptocurrencies more as speculative money games than as financial innovation.