Following a recent update, Kalshi has officially classified India as one of its 55 restricted jurisdictions, barring residents from accessing its prediction market platform. This move comes in the wake of warnings issued by India's Ministry of Electronics and Information Technology in April, which instructed VPN providers to cease facilitating access to prohibited online betting platforms.
The total number of jurisdictions where Kalshi restricts access to its services now stands at 55. This development is part of a broader trend of increasing regulatory pressure on prediction markets globally. Other nations, including Spain, Indonesia, Singapore, and several European countries, have implemented similar restrictions in response to gambling law concerns.
Moreover, political and sports-related betting has drawn heightened scrutiny, particularly after an incident where a user on Polymarket earned over $400,000 linked to a political contract, raising fears of insider trading. Recently, Kentucky has initiated legal action against multiple prediction platforms, including Kalshi, alleging they operate without proper licenses.
As of now, Kalshi and Polymarket report significant trading volumes, with figures reaching approximately $3.7 billion and $3.2 billion weekly, respectively, underscoring the substantial interest in prediction markets despite the regulatory challenges.