Taiwan has blocked domestic access to Coinbase and prediction-market platform Kalshi over suspicions of for-profit gambling tied to election outcomes.
A New Taipei court authorized the restrictions after a request from Taiwan’s Criminal Investigation Bureau. The move comes weeks ahead of the island’s November 28 local elections.
Authorities cited violations of the Public Officials Election and Recall Act, which bars operating gambling for profit based on election or recall outcomes.
Some Coinbase users in Taiwan reported losing website access as early as October 14.
The Criminal Investigation Bureau framed the blocks as necessary to prevent overseas interference ahead of city-level elections that serve as a key test of support for President Lai Ching-te’s government.
Under a 2023 amendment to the election law, bettors risk up to six months in prison. Operators face sentences of up to five years.
Taiwanese authorities have also separately warned that funds from mainland China could flow through underground financial channels to influence the vote.
This is not the first time Taiwan has acted against prediction platforms.
South Korea’s block of Polymarket earlier this year showed a similar pattern across Asia, where election-related wagering triggers swift regulatory action.
Kalshi’s main rival Polymarket has also previously been blocked in Taiwan.
Neither Coinbase nor Kalshi responded to requests for comment at the time of the Bloomberg report that first broke the story.
The Taiwan action adds to a growing stack of regulatory friction facing prediction markets worldwide.
In the United States, Coinbase has sued multiple states over prediction market restrictions, arguing that the CFTC holds federal jurisdiction and that states cannot override it.
Separately, Kalshi sought full Sixth Circuit review of a ruling that allowed Ohio and Tennessee to enforce gambling laws against its sports contracts.
The Coinbase-Kalshi relationship runs deeper than a simple rivalry. Kalshi tapped Coinbase to manage USDC deposits on its platform as part of a broader ‘Everything Exchange’ strategy.
Taiwan’s website block now creates a concrete example of how local election laws can cut off cross-border access, even for regulated U.S. platforms.
Back home, scrutiny is not limited to courts and regulators. New York City’s council probed Coinbase , Kalshi, and Polymarket over alleged deceptive advertising of prediction market products.
That probe signals that domestic political pressure is building alongside international regulatory risk.
Asia remains a critical growth region for crypto exchanges. Investors tracking Coinbase (COIN) will note that each new jurisdiction-level block chips away at the addressable market for prediction contracts.
Market participants will watch for official statements from both platforms and whether app-based access survives the court-ordered website restrictions.
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