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Prediction Markets101

Is Polymarket legal in India?

Regulatory status of Polymarket and Kalshi in India, including local gambling law, crypto regulation, tax treatment, and available alternatives.

Prediction Markets 101 editorial team Updated April 16, 2026

Short answer: Polymarket is grey zone in India as of April 2026. Polymarket does not require KYC at signup — crypto deposits work worldwide. Kalshi is US-only, not available here regardless of local law.

Access status

Polymarket access: Grey area. Online gambling law varies by state (Tamil Nadu, Andhra Pradesh, Telangana ban it). RBI has cautioned against crypto trading but the 2020 Supreme Court Internet and Mobile Association vs. RBI ruling restored legality. 30% crypto tax applies to any gain.

Kalshi access: US-only.

Local law

Public Gambling Act 1867 + state laws. Finance Act 2022: 30% tax on crypto gains, 1% TDS on transactions over Rs 10k. Prediction markets fall in a grey zone; fantasy sports was distinguished as skill-based by Supreme Court.

VPN usage: Common among residents accessing geoblocked platforms. Polymarket does not require KYC at signup; crypto deposits work without fiat rails.

Locally-available alternatives

  • Fantasy sports platforms (Dream11)
  • Probo (skill-based event contracts, domestic)

Tax treatment

30% flat on gains + 1% TDS. No loss offset. Crypto-to-crypto trades taxed.

Local currency: INR. Tax details are general guidance, not a substitute for a qualified local tax professional.

Accessing Polymarket from India

The regulatory environment for prediction markets in India is unclear. Polymarket is generally accessible; Polymarket itself does not require KYC at signup, and crypto deposits work without fiat rails.

FAQ

Do I need KYC for Polymarket in India?

No KYC is required to sign up or trade on Polymarket. Identity verification triggers only at fiat offramps above ~$10k via MoonPay or Onramper. Deposits and most trading are self-custodial via a Polygon wallet.

What is the tax treatment for Polymarket gains in India?

30% flat on gains + 1% TDS. No loss offset. Crypto-to-crypto trades taxed.

Can I use a VPN to access Polymarket from India?

Technically yes — and it's the typical path where local access is restricted. A non-US IP (or non-restricted-country IP) plus crypto deposits gets you a functional account. Polymarket does not require KYC at signup. At large fiat offramps, a mismatched ID can result in account restriction; users who keep withdrawals to self-custody crypto avoid this. Polymarket's terms of service address VPN use — review them for your own risk tolerance.

Other countries in Asia

Last verified

This page was last verified on April 16, 2026. Law and platform policies can change — we review each country page at least quarterly.

Nothing here is legal advice. For a decision with real money on the line, consult a local lawyer familiar with derivatives or gambling law.