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🇮🇳 India Set To Formally Block Polymarket And Kalshi
MeitY is issuing blocking orders under Section 69A of the IT Act. Polymarket order already issued, Kalshi expected today.
Key Facts:
➡️ Both platforms defied India's ban via mirror sites
➡️ Falls under PROGA (Online Gaming Act, effective May 1)
➡️ Govt flags stablecoin payments as a major concern
➡️ One IPL match alone drew $27.7M in trading volume
The crackdown specifically targets stablecoin rails. This sets a precedent that could ripple into broader crypto enforcement.