Taiwan Court Bars Coinbase and Kalshi Over Suspected Election Betting

A court in New Taipei authorized Taiwan's communications regulator to block domestic access to the cryptocurrency exchange Coinbase Global Inc. and the prediction-market platform Kalshi Inc. after the Criminal Investigation Bureau claimed the sites might violate the Public Officials Election and Recall Act, which prohibits gambling for profit on election results. The order was issued shortly before the island's November 28 elections, a key test for President Lai Ching-te’s government.

Authorities said the restriction is intended to protect election integrity and prevent overseas interference, though they provided no further specifics. Taiwan criminalizes election wagering, with penalties of up to six months in prison for bettors and up to five years for operators. Similar prediction-market services, such as Polymarket, have already been blocked in the country.