Kalshi adds India to growing list of restricted jurisdictions

Kalshi added India to its list of 55 restricted jurisdictions on March 18, 2024, prohibiting users from India from trading on its platform. This action follows warnings from Indian authorities in late 2023, which directed Virtual Private Network (VPN) providers to cease facilitating access to offshore betting and trading platforms. The Indian government's stance is part of a broader effort to curb unregulated financial activities and protect its citizens from potential fraud. Kalshi, a regulated exchange for event contracts, has previously restricted access for users in other countries, including the United States, Canada, and Australia, citing regulatory compliance and operational considerations. The exchange's decision to include India reflects the increasing scrutiny of such platforms by national regulators worldwide. This move impacts Indian traders who may have been using Kalshi for speculative purposes on various events.