Taiwan blocks Coinbase and Kalshi over suspected election betting — Taipei Times

Taiwan has blocked access to the platforms Coinbase Global Inc. and Kalshi Inc. over suspicions of organizing bets on election results. A court in New Taipei allowed Taiwan's communications regulator and internet registry to restrict access to the websites in the country, Taipei Times reports.

Suspected violation of election law

Taiwan's Criminal Investigation Bureau, which applied to the court for the restrictions, said the websites are suspected of violating the Election and Recall Act. The law prohibits organizing for profit gambling related to election results or the recall of public officials.

Some Coinbase users in Taiwan reported that they had been unable to access the website since Wednesday. Coinbase and Kalshi did not immediately comment on the blocking decision.

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Tighter controls ahead of voting

The bureau said it had requested the restrictions to protect the integrity of elections and prevent foreign interference, without providing details. Taiwanese authorities had previously warned that funds from mainland China could reach the island through illegal financial channels and be used to influence elections. At the same time, the authorities did not claim that Coinbase or Kalshi had handled funds from China.

Following amendments to election legislation in 2023, participants in election betting may face up to six months in prison, while gambling operators may face up to five years. Taiwan had previously also blocked Polymarket, Kalshi's main competitor. Local elections on November 28 will be the first nationwide electoral test for President Lai Ching-te since he took office in 2024.