The objective of this study was to assess the kinematic and kinetic effects of wearing a lateral wedged insole on the knee joint moment during gait, specifically in the frontal plane, in individuals with unstable ankles. Motion analyses were conducted with (1) a three-dimensional motion analysis system and (2) a ground reaction force analysis using force platforms when subjects walked under two different conditions: no wedge and a wedge with a 6-degree lateral angle. The 6-degree lateral wedge significantly reduced knee joint varus moment and increased subtalar joint valgus moment. This finding was correlated with a greater moment arm of the subtalar joint valgus moment with the 6-degree lateral wedge. These results indicate that, under gait conditions, the individuals with unstable ankles wearing lateral wedged insoles had both changes of moments at the subtalar and knee joints via the more laterally shifted location of the center of pressure.