Taiwan's Criminal Investigation Bureau obtained a court order to cut off access to Coinbase and Kalshi on suspicion of election wagering. A New Taipei court empowered the Taiwanese communications regulator and the island's internet registry to enforce the blocks, and some Coinbase users in Taiwan reported trouble reaching the site since Wednesday. Coinbase acknowledged that some users in Taiwan are experiencing access problems and said it is investigating. Kalshi stated that it does not permit trading in Taiwan.
Authorities cited the Public Officials Election and Recall Act, which bars running gambling for profit based on the result of an election or recall. Taiwan is among the places that criminalize election betting, and a 2023 amendment set penalties of up to six months in prison for bettors and as long as five years for operators. With a Nov. 28 vote approaching, the government has tightened checks on illicit financial flows, including underground gambling operations. Authorities have made no claim that Coinbase or Kalshi handled money originating from China.
The bureau said it sought the restrictions to safeguard the vote and limit "overseas interference," without elaborating. Separately, Taiwanese officials cautioned that funds from mainland China could be routed through underground networks to influence the vote. China's Taiwan Affairs Office did not provide an immediate reply to a request for comment submitted outside normal office hours.
Regulators have intensified moves against prediction platforms, and Polymarket - a leading rival to Kalshi - is likewise inaccessible in Taiwan. Crypto is frequently used to place wagers on these sites.
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Voters will pick local officials at every level, including mayors, city councilors, and village chiefs. These results will serve as the first island-wide electoral reading on President Lai Ching-te's administration after he assumed office in 2024, and could offer clues about how politics may shape up before the 2028 presidential race. For everyday investors, the takeaway is that crypto and prediction markets can quickly run into legal tripwires during election season, and local rules can change your access overnight.
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