Taiwan Blocks Coinbase and Kalshi Over Illegal Betting
What happened
A court in Taiwan ordered internet providers to block access to the Coinbase and Kalshi websites. The order was issued by the New Taipei District Court on October 15, citing suspected illegal betting on the November 28 local elections. The legal basis for the block is Taiwan’s Public Officials Election and Recall Act, which bans gambling run for profit on election outcomes.
From insidebitcoins.com
Why it matters
The ruling establishes that a US regulatory approval does not guarantee operations abroad. The court applied the election law to all platforms that allow users to trade contracts on race results, following a precedent set when Polymarket was previously blocked under the same statute.
From insidebitcoins.com
Who's involved
- CoinbaseAmerican company operating a cryptocurrency exchange platform
- PolymarketOnline prediction solicitation and aggregation engine previously blocked in Taiwan
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CoinbaseSpeculative
Coinbase might face reduced revenue from users in Taiwan due to the court order blocking access to its website.
- PolymarketSpeculative
Polymarket might face increased operational costs or restrictions in foreign jurisdictions due to the legal precedent set by Taiwan.
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The entities involved
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Coinbase
American company that operates a cryptocurrency exchange platform