Key Highlights
- Polymarket platform becomes unavailable to Indian users following government enforcement action.
- Network-level restrictions prevent access to the website across India.
- Ministry of Electronics and Information Technology issued the blocking directive.
- Platforms operating as online money gaming services face classification as illegal.
- Internet service providers received instructions to enforce access restrictions.
Indian users have lost access to Polymarket after regulatory authorities moved against prediction markets. The restrictions stem from a government directive targeting platforms categorized as online money gaming operations. India’s approach to prediction markets regulation continues to evolve within broader crypto oversight frameworks.
Government Directive Leads to Polymarket Platform Restrictions
Indian users confirmed that the Polymarket website became unreachable, displaying connectivity failure messages. Browser windows showed “This site can’t be reached” notifications regardless of multiple access attempts.
The Ministry of Electronics and Information Technology released an advisory on April 25 addressing the issue. The communication specifically addressed VPN service providers facilitating connections to prohibited betting and prediction services.
Authorities noted continued user activity on “illegal and blocked prediction market and online betting platforms.” Internet service providers received directives to enforce access termination for these websites.
Polymarket appeared prominently on the list of targeted platforms. The service enables participants to stake positions on real-world events through cryptocurrency-based mechanisms.
These prediction platforms experienced significant growth throughout the 2024 U.S. presidential election cycle. Participants wagered on political races, market movements, and international developments.
Indian regulatory bodies classify this activity under online money gaming regulations. Such classification subjects these platforms to stringent prohibition frameworks.
The Promotion and Regulation of Online Gaming Act 2025 prohibits these operations comprehensively. Enforcement continues through network-level blocking mechanisms and regulatory compliance mandates.
Kalshi and Additional Crypto Platforms Under Regulatory Scrutiny
Kalshi currently maintains accessibility for Indian users but could encounter comparable restrictions imminently. Media outlets indicate MeitY has initiated procedures for a blocking directive.
A confidential source indicated potential action “as early as Friday.” Kalshi functions under oversight from the U.S. Commodity Futures Trading Commission.
India continues maintaining strict policies regarding cryptocurrency-related operations. Regulatory priorities center on financial system stability and capital flow management.
The government implements a 30% taxation rate on cryptocurrency profits alongside a 1% tax deducted at source. These fiscal measures have substantially decreased transaction volumes on domestic trading platforms.
The Ministry of Finance enforces Anti-Money Laundering and Counter-Strike Financing regulations through active monitoring. The Financial Intelligence Unit conducts ongoing oversight activities.
These regulatory frameworks have prompted numerous crypto enterprises to establish operations internationally. Dubai and Singapore have become preferred relocation destinations for many companies.
Parliamentary committee members convened on May 20 with representatives from Binance, WazirX, and Zebpay. Discussions focused on taxation frameworks and regulatory approaches for virtual digital assets.
The committee highlighted concerns regarding capital outflows associated with cryptocurrency transactions. Authorities maintain active reviews of compliance standards and enforcement protocols throughout the industry.
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