India, May 21 -- The IT ministry (MeitY) is reportedly all set to formally block US-based prediction market platform Kalshi as soon as tomorrow (May 22).

A MeitY official told The Print that the ministry has already issued orders to enforce the ban on the platform operating in the country "illegally", while the process is underway to block another such platform, Polymarket.

"We have already issued a blocking order to Polymarket and are in the process of issuing an order to Kalshi as soon as Friday," a MeitY official reportedly said.

The blocking order will reportedly be issued under Section 69A of the IT Act, which empowers the Centre to restrict access to online content.

Polymarket and Kalshi are US-based prediction marketplaces that...