Singapore’s gaming watchdog, the Gambling Regulatory Authority (GRA), has instructed local internet service providers to block access to the prediction market platform Polymarket.
This move follows similar actions by authorities in Taiwan and France, who cited local gambling laws in restricting access to the platform.
The GRA issued the order to block Polymarket, which took effect on January 12th. The notice describes the popular crypto prediction platform as an ‘illegal gambling site hosted by an unlicensed gambling service provider’.
Individuals caught gambling on unlicensed platforms in Singapore face a possible fine of up to SG$10,000 ($7,200) or a prison sentence of up to six months. Although the GRA has yet to issue an official public statement on the issue, no enforcement actions against Polymarket have been listed in the public directory.
Under Singapore’s strict gambling regulations, only government-approved platforms, such as Singapore Pools, are allowed to operate what are deemed to be gambling activities.
Singapore authorities indicate that Polymarket is not properly registered to comply with its rules and is in violation of these laws. While the platform does not specifically target Singaporean users, its global popularity has led some to access it via VPNs, making enforcement more challenging.
