Coinbase and Kalshi were reportedly blocked in Taiwan over suspected election betting and several Coinbase users have been unable to access the website since October 14.
The announcement comes ahead of local elections scheduled for November 28, which will be the first since 2024, when President Lai Ching-te took office.
Court order targets access ahead of Taiwan’s November vote
A court in New Taipei authorized Taiwan’s communications regulator and Internet Registry to block domestic access to the two platforms, according to a report released on October 15: quoting a decision consulted by Bloomber News. Some Coinbase users in Taiwan have reported access issues since October 14.
The Criminal Investigation Bureau, which requested the order, suspected the websites might violate Taiwan’s law on the election and recall of public officials. The law prohibits the operation of games of chance for profit based on the outcome of an election or recall. The office said the restrictions were intended to protect election integrity and prevent “foreign 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 he did not allow trade 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 clandestine financial channels and be used to influence elections.
The government has intensified its monitoring of illicit financial flows and underground gambling in the run-up to the November 28 elections. Taiwanese voters are expected to choose local officials, including village chiefs, city councilors and mayors.
Prediction Markets Face Gambling Scrutiny Elsewhere
Taiwan is one of the countries that criminalizes election betting. Under a 2023 amendment to the electoral law, punters face up to six months in prison, while gambling operators can face sentences of up to five years. Polymarket, Kalshi’s main rival, has also been blocked in Taiwan.
Legal pressures have also emerged elsewhere. As CryptoPotato According to reports, South Korean police have opened criminal cases against 26 Polymarket users and referred 18 to prosecutors over around $12.7 million in bets. 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, he suspended three political candidates for negotiating contracts related to their own campaigns.
New York sued the platform in July, alleging it offered illegal gaming products without a state license, and Baltimore filed lawsuits against Kalshi and Polymarket in August over sports-related deals.
The article Taiwan cuts off Coinbase and Kalshi weeks before local vote: report appeared first on CryptoPotato.
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