Kalshi has added India to its list of restricted jurisdictions, according to an updated members’ agreement released on Wednesday.
Regulatory Expansion in India
The revised agreement now enumerates 55 jurisdictions whose residents are barred from using the Kalshi platform. India’s Ministry of Electronics and Information Technology issued a directive in April urging VPN providers to cease facilitating access to “illegal and blocked online betting and prediction market platforms.” This move directly targets crypto‑based prediction markets that attract investors seeking blockchain‑enabled wagering opportunities.
Global Crackdown on Prediction Markets
In May, Spanish regulators prohibited both Polymarket and Kalshi from operating under national gambling statutes, while Indonesia barred Polymarket after it listed contracts on President Prabowo Subianto’s potential early departure. Additional jurisdictions—including Singapore, Poland, Portugal, Hungary, Ukraine, and Brazil—have also taken steps to block or restrict platforms such as Kalshi and Polymarket.
Political and Sports Betting Under Scrutiny
U.S. lawmakers introduced legislation in January aimed at limiting political prediction market trades by government officials, a response sparked by a Polymarket user who earned more than $400,000 on a contract concerning the removal of Venezuelan President Nicolás Maduro. The heightened regulatory focus reflects growing concerns that political and sports‑related contracts could be exploited for insider trading within the crypto market.