Coinbase and Kalshi have been reportedly blocked from Taiwan due to suspicion of betting on elections and several users of Coinbase have been unable to access the website since October 14.
The notice comes ahead of local elections set for November 28, which will be the first time since 2024 when President Lai Ching-te took office.
Court Order Targets Access Before Taiwan’s November Vote
A New Taipei court authorized Taiwan’s communications regulator and internet registry to block domestic access to the two platforms, a report published October 15 said, citing a ruling seen by Bloomber News. Some Coinbase users in Taiwan had reported access problems since October 14.
The Criminal Investigations Bureau, which requested the order, suspected the websites may violate Taiwan’s Public Officials Election and Recall Act. The law prohibits operating gambling for profit based on an election or recall outcome. The bureau said the restrictions were intended to protect election integrity and prevent “overseas interference,” but it did not provide further details.
Coinbase said it was aware that some users in Taiwan could not access its website and was investigating. Kalshi responded that it does not allow trading in Taiwan.
Authorities have not accused either company of handling money from mainland China, although Taiwanese officials have separately warned that funds from China could enter the island through underground financial channels and be used to influence elections.
The government has stepped up scrutiny of illicit financial flows and underground gambling ahead of the November 28 poll. Taiwanese voters are expected to choose local officials, including village chiefs, city councillors, and mayors.
Prediction Markets Face Gambling Scrutiny Elsewhere
Taiwan is among the jurisdictions that criminalize election wagering. Under a 2023 amendment to its Election Act, bettors can face up to six months in prison, while gambling operators can receive sentences of as long as five years. Polymarket, Kalshi’s main rival, has also been blocked from in Taiwan.
Legal pressure has emerged elsewhere, too. As CryptoPotato reported, South Korean police opened criminal cases against 26 Polymarket users and referred 18 to prosecutors over about $12.7 million in wagers. Investigators used public blockchain records to identify users, despite Polymarket’s non-custodial structure.
Kalshi has faced separate disputes in the United States. In April, it suspended three political candidates for trading contracts tied to their own campaigns.
New York sued the platform in July, alleging it offered illegal gambling products without a state license, and Baltimore filed lawsuits against Kalshi and Polymarket in August over sport-related contracts.
The post Taiwan Cuts Off Coinbase and Kalshi Weeks Before Local Vote: Report appeared first on CryptoPotato.
Source: https://cryptopotato.com/taiwan-cuts-off-coinbase-and-kalshi-weeks-before-local-vote-report/
