Prediction market apps such as Kalshi, Polymarket have come under the lens of Ministry of Electronics and Information Technology of India's scanner, secretary S. Krishnan told reporters on Wednesday.
Platforms such as Kalshi, Polymarket are used for betting on election outcomes, IPL and many other events, and MeitY is currently mulling action against these apps.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
MeitY's statement comes amid spikes in election bettings on online platforms, as Indian states of Tamil Nadu and West Bengal head to polls on Thursday.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The secretary added that the government has taken action whenever such reports have come to the ministry.
ALSO READ: From Rummy Culture To Dream11: List Of Top Apps That Halted Real-Money Games After Online Gaming Act
Further, he pointed out that even though apps such as Kalshi, Polymarket are banned under the Online Gaming Act, users continue to access them via virtual private networks or VPNs.
"Access through VPNs is a slightly tricky issue, seeing how we can intervene," S. Krishnan said.
The secretary expanded on the same and said that VPNs have several legitimate uses as well, therefore how to distinguish between legit and illegitimate is an ongoing exercise.
"It's a bit of a whack-a-mole situation," the secy remarked.
Moreover he said that payment channels, specialised wallets involved in these transactions should be compliant with Indian laws.
He also underscored that if foreign platforms are offering services in India and it is brought to the ministry's notice, action can be taken as the Onine Gaming Act has extra territorial jurisdiction. Such platforms can be blocked under Section 69A of the Information Technology (IT) Act, 2000.
ALSO READ: Govt Notifies Online Gaming Act Rules, Rollout From May 1; Social Games Registration Now Voluntary
Online Gaming Act Rules To Take Effect From May 1 Onwards
The government has notified rules under the Promotion and Regulation of Online Gaming Act, 2025, with implementation set to begin from May 1, marking the operational rollout of a formal regulatory framework for the sector.
A key feature of the rules is that registration for online social games has been made voluntary. Such games can operate without prior determination or registration with the proposed regulator, the Online Gaming Authority of India (OGAI). However, the authority will have powers to step in and review any game on its own.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
