India Blocks Prediction Markets Polymarket and Kalshi Amid Regulatory Crackdown

Key Facts

In a move reflecting tightening oversight on unlicensed digital financial platforms, Indian authorities have initiated a regulatory crackdown that has rendered Polymarket inaccessible within the country. According to reports, the popular decentralized prediction platform has gone dark for Indian users, signaling a government push to curb access to offshore speculative markets. Local reports further suggest that Kalshi could be the next target for blocking, as India intensifies its scrutiny of betting and prediction platforms operating without local licenses.

These regulatory actions coincide with a period of economic adjustment in India, where Trade Balance data released on May 15, 2026, showed a deficit of $28.38 billion, wider than the $27 billion forecast per market data. This crackdown mirrors broader regional trends where authorities are prioritizing financial stability; for instance, China reported a mere 0.2% year-on-year growth in retail sales for May 2026, highlighting a general cautiousness toward high-risk financial instruments across major Asian markets.

Traders should watch for how global prediction platforms pivot after losing access to one of the world's largest retail markets. Looking ahead, the RBA Meeting Minutes scheduled for May 19, 2026, will be a key catalyst for assessing broader market sentiment in the Asia-Pacific region.