2 weeks ago
Polymarket has gone acheronian successful India and arsenic per section media reports, Kalshi could beryllium next.
Updated May 22, 2026, 5:17 a.m. Published May 22, 2026, 5:14 a.m. 2 min read
Polymarket, the world's largest decentralized betting platform, has gone acheronian for users successful India. The website says, "This tract can’t beryllium reached. Check if determination is simply a typo successful polymarket.com."
Refreshing the leafage does not resoluteness the transportation issue.
The outage follows an April 25 advisory from the Ministry of Electronics and Information Technology (MeitY) directed astatine VPN work providers. The advisory warned that section users were continuing to entree "illegal and blocked prediction marketplace and online betting platforms" contempt "domestic prohibitions."
According to the directive, net work providers were required to terminate entree to prediction markets, with Polymarket among the superior targets.
While Kalshi, a level regulated by the U.S. Commodity Futures Trading Commission (CFTC), is presently inactive accessible, it whitethorn soon look a akin fate. Local media reports, citing an anonymous root wrong MeitY, assertion the bureau has "already issued a blocking bid to Polymarket and are successful the process of issuing an bid to Kalshi arsenic soon arsenic Friday."
Prediction markets alteration users to wager existent wealth connected the outcomes of binary events, specified arsenic referendums, fiscal plus terms movements, and predetermination results. These platforms saw a monolithic surge successful planetary popularity during the 2024 U.S. statesmanlike election, becoming a superior venue for investors to hedge oregon stake connected governmental outcomes.
However, the Indian authorities classifies the enactment connected these platforms arsenic online wealth gaming. As a result, they autumn nether a class that is wholly prohibited nether the Promotion and Regulation of Online Gaming Act 2025.
The Indian authorities has maintained a consistently "risk-averse" and prohibitive stance toward the cryptocurrency sector, prioritizing fiscal stableness and superior power implicit manufacture growth. New Delhi has utilized a "shadow ban" strategy done punitive taxation, including a 30% level taxation connected gains and a 1% taxation deducted astatine root (TDS) connected each transactions, which has efficaciously throttled home trading volumes.
The Ministry of Finance has focused connected bringing the assemblage nether strict Anti-Money Laundering (AML) and Counter-Strike Financing (CFT) oversight via the Financial Intelligence Unit (FIU). This regulatory situation has pushed galore section crypto startups to relocate to much affable jurisdictions similar Dubai oregon Singapore, arsenic the authorities and the Reserve Bank of India proceed to awesome that it views backstage cryptocurrencies much arsenic speculative "money games" than morganatic fiscal innovation.
India's Parliamentary Standing Committee connected Finance met crypto exchanges Binance, WazirX and Zebpay successful Delhi connected May 20 to sermon regulations and taxation for what it calls a virtual integer assets (VDA) industry.
The committee expressed concerns implicit monolithic outflows from the state via the crypto channel.
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