Taiwan blocks Coinbase, Kalshi over election betting fears

What happened

Authorities in Taiwan have cut off local web access to Coinbase and Kalshi after a court in New Taipei approved a police request linked to worries about paid wagers on election results. The telecom watchdog and the domain registry were told to enforce the curb. Officials said the step was meant to defend the vote and limit foreign meddling. No charges have been announced against either firm.

Users in Taiwan started to report trouble opening the Coinbase site on October 14. The firm said it knew of the issue and was looking into the cause. Kalshi said people in Taiwan could not trade on its venue. News of the court decision circulated on October 16. The curb arrives ahead of the November 28, 2026 vote for mayors, council members and village leaders.

Investigators pointed to rules that bar profit seeking bets tied to polls or recalls. They did not describe what posts, markets or transfers raised concern, and reporting has not tied a specific deal to a banned bet. Under a 2023 change, voters who wager can face up to six months in jail, while people who run such betting can face up to five years.

Why it matters

The case shows how local voting rules can close access to foreign trading venues, even when those venues are licensed elsewhere. Police framed the move as protection for city polls seen as a gauge of backing for President Lai Ching-te's administration. Authorities have also warned that money from mainland China might move through hidden channels to sway the ballot.

Taiwan has previously limited Polymarket, and South Korea took a similar step this year. In the United States, Coinbase has challenged state limits on event contracts and says federal derivatives oversight should prevail. Kalshi has asked a federal appeals court to revisit a decision that let Ohio and Tennessee apply gambling rules to its sports offerings. New York City lawmakers have questioned Coinbase, Kalshi and Polymarket about marketing.

It remains to be seen if phone apps still work after the web curb, and traders are waiting for fresh comment from both firms. Each local curb can shrink the pool of users able to reach event contracts, a point of interest for holders of COIN.

Background

Coinbase and Kalshi have grown closer through product and custody links. Kalshi uses Coinbase to handle USDC deposits as part of a broad exchange plan. Coinbase added event trading to its app through Kalshi and in January 2026 opened the product in 50 states in the U.S. for eligible clients.

What is still unclear

• The exact date of court approval is not clear, though access faults surfaced on October 14 and news of the ruling spread on October 16.
• Officials have not said what listings or user actions led to the suspicion, and no banned deals have been named.
• It is not clear whether phone app access continues while website access is cut.

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