How to Access Prediction Markets in India Despite Legal Restrictions: A Step-by-Step Guide

Introduction

In April, the Indian government issued an advisory to VPN providers, labeling prediction markets like Polymarket and Kalshi as illegal. Despite this, both platforms continue to allow users in India to sign up and trade. This guide explains how to navigate the current environment, from understanding the legal landscape to safely accessing these markets using a VPN. Disclaimer: This guide is for informational purposes only. Users should comply with local laws and consult legal experts.

What You Need

• A reliable VPN service with servers outside India (e.g., US, UK, Singapore)
• A stable internet connection
• An account on Polymarket or Kalshi (or both)
• A cryptocurrency wallet (e.g., MetaMask for Polymarket; Kalshi accepts USDC via exchanges like Coinbase)
• Funds in cryptocurrency (USDC preferred)
• Basic understanding of prediction markets

Step-by-Step Guide

Step 1: Understand the Legal Landscape

On April 25, the Indian government directed VPN providers to block access to prediction market platforms, citing their illegality. However, the advisory does not have the force of a full ban and applies primarily to providers, not individual users. Both Polymarket and Kalshi continue to accept Indian registrations. Key takeaway: While the risk of enforcement is low, trading could violate securities laws. Proceed with caution and seek legal advice.

Step 2: Choose a VPN Provider

Select a VPN that prioritizes privacy, has a no-logs policy, and offers servers in countries where prediction markets are legal (e.g., United States). Recommended options include ExpressVPN, NordVPN, or Mullvad. Avoid free VPNs as they may log data or have weak encryption.

Step 3: Install and Configure Your VPN

Download and install the VPN software on your device (Windows, Mac, Android, iOS). Log in and connect to a server outside India—preferably one with fast speeds for trading. Ensure the VPN is active before visiting Polymarket or Kalshi. Test your IP address using a site like whatismyip.com to confirm you appear from another country.

Step 4: Create Accounts on Polymarket and Kalshi

• Polymarket: Go to polymarket.com while VPN is on. Click “Connect Wallet” and link a crypto wallet (MetaMask, WalletConnect). No KYC is required for basic trading, but large volumes may trigger verification.
• Kalshi: Visit kalshi.com with VPN active. Registration requires full KYC (ID, address proof). Use a non-Indian address (e.g., a US address from a service) – note this may be risky if verified.

Step 5: Fund Your Account

For Polymarket, deposit USDC (Polygon network) into your wallet and approve transactions on the platform. For Kalshi, deposit USDC via a crypto exchange (e.g., Coinbase) that supports deposits to Kalshi. Important: Use the correct network (ERC-20 for Kalshi) to avoid losing funds.

Step 6: Start Trading

Browse available markets – from elections to sports. Choose a market, set your position (Yes/No), and confirm the trade using your wallet. Monitor positions and cash out if needed. Tip: Start with small amounts to test the process.

Step 7: Stay Informed and Secure

Keep your VPN on every time you access these platforms. Follow updates from the Indian government regarding crypto and prediction markets. Note: Both platforms may restrict access further if pressured, so have backup plans (e.g., alternative VPN servers).

Tips for Success

• Use a dedicated VPN device – Avoid using company or school networks.
• Enable kill switch – Prevents IP leaks if VPN disconnects.
• Diversify VPN servers – Rotate locations to avoid detection.
• Never share personal info – Some platforms require KYC, but be cautious about exposing your real identity.
• Understand market mechanics – Prediction markets have inherent risks; only invest what you can lose.
• Check for Indian bank restrictions – Withdrawing fiat from exchanges may be blocked, so plan to use crypto.

Final word: While Polymarket and Kalshi remain accessible, the legal status in India is uncertain. Use this guide responsibly and prioritize compliance with local laws.