India Blocks Access to Polymarket Amid Crackdown on Prediction Markets

Users in India are no longer able to access Polymarket after authorities moved to tighten enforcement against online betting and prediction market services. Visitors attempting to reach the platform are now met with an error message indicating the site is unavailable.

The restriction comes shortly after India’s Ministry of Electronics and Information Technology (MeitY) issued an advisory to VPN providers on April 25, warning that residents were still bypassing restrictions to use banned betting and prediction market websites. The directive instructed internet service providers to disable access to platforms considered illegal under local regulations, with Polymarket reportedly among the first targets.

Another prediction market operator, Kalshi, remains reachable in India for now, though reports suggest regulators are preparing similar enforcement measures against the platform in the coming days.

Prediction markets allow participants to place real-money bets on the outcomes of events ranging from elections and referendums to cryptocurrency prices and economic developments. Interest in the sector surged globally during the 2024 U.S. presidential race, where such platforms became widely used for political speculation and hedging strategies.

Indian authorities, however, classify these services as online money gaming activities prohibited under the Promotion and Regulation of Online Gaming Act 2025. Officials have maintained that these platforms pose financial and consumer protection risks.

The latest action also reflects India’s broader conservative approach toward the crypto industry. Policymakers have imposed heavy taxation on digital assets, including a flat 30% tax on crypto gains and a 1% tax deducted at source on every transaction, measures that have significantly reduced domestic trading activity.

At the same time, regulators have increased oversight through Anti-Money Laundering and Counter-Strike Financing rules enforced by the Financial Intelligence Unit. The stricter environment has pushed several Indian crypto firms to shift operations overseas, particularly to hubs such as Dubai and Singapore.

The government’s scrutiny of the sector continued this week as India’s Parliamentary Standing Committee on Finance held discussions with major exchanges including Binance, WazirX, and ZebPay regarding taxation and oversight of virtual digital assets. Lawmakers reportedly raised concerns about capital outflows linked to cryptocurrency activity.