Taiwan blocks Kalshi and Coinbase websites over suspected election-law violations, report says

Taiwan's communications regulator has blocked the websites of prediction market exchange Kalshi and cryptocurrency platform Coinbase, according to a Bloomberg report cited by Inside Asian Gaming. The restrictions followed an order from a court in New Taipei and are linked to suspected violations of Taiwan's election law.

The Criminal Investigation Bureau's stated concern is election-related gambling under the Public Officials Election and Recall Act. The report describes suspected violations rather than a finding that either company has broken the law, so the website restrictions should not be read as a determination of liability. Protecting elections and preventing overseas interference were the reasons given for seeking the access limits, as the island approaches its local elections on November 28.

The two companies responded differently. Kalshi reportedly denied that it permits trading in Taiwan, which disputes the premise that users there could take part on its platform. Coinbase focused on access difficulties reported by some users and said it was investigating the matter. Its statement did not tie those problems to any election-law breach, and neither response, as described, amounts to an admission of wrongdoing.

Bloomberg also outlined the penalties introduced under a 2023 amendment to Taiwan's election act. A person who places a bet on an election outcome can face up to six months in prison, while those who offer election bets face a maximum sentence of five years. The law therefore separates participating in election betting from providing the opportunity to wager. These are potential penalties described in the report and not sentences imposed in connection with the blocking of the websites.

According to the report, Kalshi now joins Polymarket among the trading platforms blocked by Taiwanese authorities. The latest step extends that list and also restricts access to Coinbase's website. The case adds to the growing regulatory attention that prediction markets face in different jurisdictions, particularly where contracts relate to elections.