Prediction markets platform Kalshi has designated India as a restricted jurisdiction, confirming an NDTV Profit report from April that the government was preparing to tighten its scrutiny of such platforms.
According to Kalshi's user agreement, the platform is no longer available to users in India. The move comes months after the Ministry of Electronics and Information Technology (MeitY) initiated action against prediction market platforms such as Kalshi and Polymarket over concerns that they were facilitating betting on elections, sporting events and other real-world outcomes.
In April, NDTV Profit reported that MeitY was examining action against prediction market apps following a sharp increase in activity around election-related betting markets. At the time, government officials said platforms such as Kalshi and Polymarket fell within the ambit of India's online gaming regulations and that action could be taken even if they operated from outside the country.
The government had also acknowledged that while several such platforms had been blocked, many users continued accessing them through virtual private networks (VPNs), making enforcement more challenging.
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Officials had said VPNs present a complex regulatory issue because they have several legitimate uses alongside misuse for bypassing geographic restrictions. They described enforcement as a "whack-a-mole" exercise, with new access routes emerging after existing ones are blocked.
The ministry had further indicated that payment channels and specialised digital wallets used for transactions on such platforms would also be expected to comply with Indian laws. Officials noted that the Online Gaming Act has extra-territorial jurisdiction, allowing authorities to take action against foreign platforms offering services to users in India.
The government had also said it could invoke Section 69A of the Information Technology Act to block access to platforms found to be operating in violation of Indian regulations.
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