Amid India’s stricter crackdown on online betting and prediction platforms, Kalshi and Polymarket are reportedly still allowing users in the country to register and trade on their platforms despite government warnings and new regulations.
Last month, India’s technology ministry issued an advisory stating that users were continuing to access “illegal and blocked prediction market and online betting platforms” despite domestic restrictions. The advisory specifically mentioned Polymarket and similar websites, directing internet service providers and VPN operators to prevent access. The ministry also warned VPN providers of “exposure to consequential legal action” if they enabled users to bypass restrictions.
The development comes after India’s new online gambling law officially came into effect on May 1. The law broadly bans “online money games” across the country.
Kalshi said it has not received direct instructions from the Indian government to shut operations. The company also stated that users continue to go through identity verification before trading. Meanwhile, Polymarket said it is “committed to complying with applicable laws and regulations across all jurisdictions in which it operates.”
The platforms have gained attention due to heavy trading activity around Indian Premier League matches. A May 7 IPL match between Lucknow Super Giants and Royal Challengers Bengaluru reportedly generated $27.7 million in trading volume across Kalshi and Polymarket.
The issue has also raised concerns around cryptocurrency-based payments and stablecoins used on these platforms. According to the ministry, such systems may create risks linked to illegal betting, money laundering and financial instability.
Legal experts say India’s new law leaves little room for prediction markets. Mumbai-based gaming lawyer Jay Sayta said, “Polymarket, Kalshi and other prediction markets would obviously fall under online money games under PROGA, and therefore there is a blanket ban.”
Some Indian internet providers have already blocked access to Polymarket. However, reports suggest users are still finding ways to bypass restrictions through DNS changes and VPN services.
The government has maintained that online gambling platforms raise serious concerns around addiction, financial losses, money laundering and public safety.
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