Polymarket Goes Dark in India as Prediction Markets Face Crackdown

TLDR

• India has blocked access to Polymarket as part of a crackdown on prediction markets.
• Users in India can no longer access the Polymarket website due to network restrictions.
• The action follows a directive from the Ministry of Electronics and Information Technology.
• Authorities targeted platforms classified as illegal online money gaming services.
• Internet service providers were instructed to restrict access to these platforms.

Polymarket has become inaccessible to users in India following government action against prediction markets. The disruption comes after a directive targeting platforms classified as online money gaming. The move places India, prediction markets regulation at the center of tightening crypto oversight.

India Prediction Markets Crackdown Blocks Polymarket Access

Users in India reported that Polymarket’s website stopped loading and displayed connection errors. The page stated, “This site can’t be reached,” even after repeated refresh attempts.

The outage follows an April 25 advisory issued by the Ministry of Electronics and Information Technology. The notice targeted VPN providers enabling access to blocked betting and prediction platforms.

The ministry stated that users continued accessing “illegal and blocked prediction market and online betting platforms.” Authorities instructed internet service providers to terminate access to these services.

Polymarket was listed among the primary targets in the directive. The platform allows users to wager on real-world outcomes using crypto-based systems.

Prediction markets gained traction during the 2024 U.S. presidential election. Users placed bets on political outcomes, financial prices, and global events.

The Indian government classifies such activity as online money gaming. This classification places these platforms under strict prohibition laws.

The Promotion and Regulation of Online Gaming Act 2025 bans these services entirely. Authorities continue enforcement through network-level blocking and compliance orders.

Regulatory Pressure Extends to Crypto Platforms and Kalshi

Kalshi remains accessible in India but may face similar restrictions soon. Local media reports suggest MeitY has begun issuing a blocking order.

An anonymous source stated the agency could act “as soon as Friday.” Kalshi operates under regulation by the U.S. Commodity Futures Trading Commission.

India maintains a restrictive stance toward crypto-related activities. Authorities prioritize financial stability and control capital flows.

The government applies a 30% tax on crypto gains and a 1% tax deducted at source. These measures have reduced trading activity across domestic exchanges.

The Ministry of Finance also enforces Anti-Money Laundering and Counter-Strike Financing rules. Oversight is conducted through the Financial Intelligence Unit.

These policies have pushed several crypto startups to relocate abroad. Many firms have moved operations to Dubai and Singapore.

On May 20, a parliamentary committee met exchanges including Binance, WazirX, and Zebpay. Officials discussed taxation and regulation of virtual digital assets.

The committee raised concerns about capital outflows linked to crypto usage. Authorities continue reviewing compliance and enforcement measures across the sector.

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