Taiwan Blocks Kalshi and Coinbase Amid Election Betting Concerns

Taiwanese authorities have restricted access to Kalshi and Coinbase over suspected violations of election betting laws, intensifying scrutiny of prediction markets and cryptocurrency platforms ahead of November's local elections.

Taiwan has blocked domestic access to the websites of cryptocurrency exchange Coinbase and prediction market platform Kalshi following a court order linked to suspected election-related gambling activities.

According to Bloomberg, a court in New Taipei authorised the country's communications regulator and internet registry to restrict access to both platforms. The measures were reported on October 15, approximately six weeks before Taiwan's local elections scheduled for November 28.

The Criminal Investigation Bureau, which requested the restrictions, said the platforms were suspected of violating Taiwan's Public Officials Election and Recall Act. The legislation prohibits commercial gambling based on election or recall results.

Under amendments introduced in 2023, individuals participating in prohibited election betting may face up to six months in prison, while those organising such activities could receive sentences of up to five years.

Some Coinbase users reported difficulties accessing the platform following the restrictions. Coinbase acknowledged reports of limited accessibility and said it was investigating the situation. Kalshi stated that Taiwan was already a restricted jurisdiction for its services.

Taiwanese authorities have also previously blocked Polymarket, another major prediction market platform, as part of efforts to prevent unauthorised election wagering.

The restrictions highlight growing regulatory challenges for prediction markets and cryptocurrency-related businesses operating across multiple jurisdictions.

As more countries examine the legal status of event-based contracts, platforms may face increasingly complex compliance obligations. Taiwan's actions demonstrate how election laws and gambling regulations can affect international digital financial services, even when companies operate outside the jurisdiction.