India's IT ministry blocks Polymarket and prepares Kalshi takedown under IT Act
India's Ministry of Electronics and Information Technology ordered internet service providers and app stores to block Polymarket on Thursday, May 21, rendering the crypto-native prediction market unavailable nationwide. The takedown notices classify Polymarket as an illegal betting platform, and Kalshi—the CFTC-regulated U.S. event-contract exchange—is under review and could face similar action. Multiple reports published May 22 cite the IT Act as the enforcement mechanism, with at least one noting the platforms had continued onboarding Indian users despite prior warnings. The crackdown follows months of rising Indian lawmaker concern about unregulated offshore wagering sites, particularly those offering contracts on cricket and politics.
Polymarket must now defend against blocking in India while Kalshi's prospective takedown would mark the first time a CFTC-regulated exchange has been shut down by a foreign government treating event contracts as gambling. Any successful Indian enforcement template would complicate both platforms' lobbying in Japan and Malta.
India joins South Korea, Minnesota, and the U.S. House Oversight committee in active enforcement against Polymarket and Kalshi, making them the fourth and fifth jurisdictions this month to target both platforms simultaneously.