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Events / Regulatory / India bans online prediction markets
Regulatory regulatory ban

India bans online prediction markets

Analysis based on 6 articles · First reported May 18, 2026 · Last updated May 18, 2026

Sentiment
-50
Attention
4
Articles
6
Market Impact
Direct
Live prominence charts, article sentiment distribution, and event development timeline available on the NewsDesk Dashboard
Market Impact

The regulatory ban in India>>> directly impacts the business models and expansion strategies of prediction market platforms like Polymarket>>> and Kalshi>>>. This event creates uncertainty for investors in these companies and highlights the legal risks associated with operating in jurisdictions with evolving online gambling laws.

Financial Services Technology Gambling
Event Summary

The government of India>>> has implemented a new law, the Promotion and Regulation of Online Gaming Rules (PROGA), effective May 1, which broadly bans 'online money games'. Despite this, prediction market platforms Polymarket>>> and Kalshi>>> continue to allow customers in India>>> to sign up and trade. The India — Ministry of Electronics and Information Technology>>> issued an advisory on April 25, warning that these platforms are illegal and should be blocked by internet providers, and also cautioned Virtual private network providers about legal action for enabling circumvention. Kalshi>>>'s legal counsel stated they are in communication with the Indian government and will comply with requests, while Polymarket>>> maintains geoblocking measures but does not list India>>> as restricted. Both platforms use stablecoins for deposits, raising concerns for the ministry regarding unlawful betting and financial risks. The India — Securities and Exchange Board of India>>> had previously warned investors about 'opinion trading' platforms lacking investor protection. This situation underscores the willingness of these startups to push legal boundaries for global expansion, similar to Kalshi>>>'s access being blocked in Brazil>>> and ongoing regulatory challenges in the United States>>>.

Key Actions
100 India passed bill banning
95 India — Ministry of Electronics and Information Technology issued advisory Polymarket
85 Kalshi continued operations
85 Polymarket continued operations
60 India — Securities and Exchange Board of India cautioned investors
40 Brazil blocked access Kalshi
Entities Involved
cnt
India
India has implemented a new law, the Promotion and Regulation of Online Gaming Rules (PROGA), to ban online money games, directly affecting prediction market platforms like Polymarket>>> and Kalshi>>>. The government is actively working to enforce these regulations.
Importance 100 Sentiment -10
priv
Polymarket
Polymarket is a prediction market platform that continues to operate in India>>> despite a ban, facing legal and regulatory challenges. Its business operations in India>>> are directly impacted by the new law and government warnings.
Importance 90 Sentiment -60
exch
Kalshi
Kalshi is a prediction market platform that continues to allow customers in India>>> to trade despite the ban, facing legal scrutiny and potential enforcement actions. Its expansion plans and current operations in India>>> are under threat.
Importance 90 Sentiment -55
govactor
India — Ministry of Electronics and Information Technology
The India — Ministry of Electronics and Information Technology>>> issued an advisory warning that prediction market platforms are illegal in India>>> and is taking steps to block access to them. It is concerned about unlawful online betting and financial risks.
Importance 80 Sentiment 0
govactor
India — Securities and Exchange Board of India
The India — Securities and Exchange Board of India>>> previously cautioned investors about 'opinion trading' platforms, stating they offer no investor protection and are not overseen by the agency, reinforcing the regulatory stance against such markets in India>>>.
Importance 50 Sentiment 0
govactor
United States — United States Commodity Futures Trading Commission
The United States — United States Commodity Futures Trading Commission>>> has supported prediction market platforms in their court battles in the United States>>> and believes event contracts should be regulated as financial derivatives at the federal level, but declined to comment on overseas operations.
Importance 30 Sentiment 0
cnt
Brazil
Brazil blocked access to Kalshi>>> last month, indicating a global trend of governments restricting prediction market platforms.
Importance 10 Sentiment 0
cnt
United States
In the United States>>>, Kalshi>>> and Polymarket>>> face state regulators alleging violations of gambling laws, though the United States — United States Commodity Futures Trading Commission>>> supports federal regulation of event contracts.
Importance 10 Sentiment 0
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