India has officially blocked access to prediction market platform Polymarket, following the Ministry of Electronics and Information Technology (MeitY) classifying it as illegal online money gaming under new regulations. Users in India now see connection errors when trying to reach Polymarket, after ISPs were ordered to enforce the block.
MeitY Treats Prediction Markets as 'Online Money Games'
According to a MeitY advisory issued on April 25, 2026, internet service providers and VPN services received instructions to restrict access to prediction market platforms. The Promotion and Regulation of Online Gaming Rules officially took effect on May 1, 2026, classifying any platform that accepts real money wagers on uncertain outcomes as prohibited online betting. Authorities stated that even if operators label their platforms as forecasting or research tools, the presence of monetary deposits makes them "online money games."
Kalshi Also Faces Potential Blocking
Sources familiar with the matter told local media that MeitY may issue a blocking order against Kalshi by May 23, 2026. Kalshi operates under oversight of the U.S. Commodity Futures Trading Commission (CFTC). If the order proceeds, Kalshi will become inaccessible within India. Currently, the platform remains available, but the regulatory trajectory points toward stricter enforcement.
Broader Crackdown: Stablecoins and Crypto Meetings
India’s regulatory clampdown extends beyond prediction markets. Officials from the Ministry of Finance and the Reserve Bank of India have previously flagged concerns over stablecoin transactions and offshore capital flows. Earlier this week, Indian lawmakers met representatives from Binance, WazirX, and ZebPay in New Delhi to discuss virtual digital asset regulations, signaling a tightening environment for crypto-related activity.
Global Trend Against Prediction Markets
India’s move aligns with a string of similar actions worldwide. Earlier this year, authorities in Argentina ordered providers to block Polymarket after courts ruled it outside gambling regulations. Colombia and Romania had previously restricted the platform. Within the United States, Minnesota became the first state to ban prediction market services under state-level enforcement. Indian regulators appear to be following this global pattern, integrating their approach with both financial and gambling enforcement frameworks.