A surge in Singapore-related wagering activity has been recorded on Polymarket despite the platform being blocked in the country since late 2024, highlighting ongoing enforcement challenges around offshore and crypto-based gambling services.
According to local media reports, users have continued to access the platform via alternative means, placing bets on a range of Singapore-focused events. Recent activity has included wagers on daily temperature readings, with average daily stakes exceeding $100,000 in April. On April 17th alone, nearly $125,000 had been wagered by the evening cutoff, with most participants backing a peak temperature of 33°C.
Polymarket operates as a prediction market, allowing users to buy “yes” or “no” shares tied to the outcome of real-world events, with payouts made in cryptocurrency to winning positions. The platform states that users in Singapore are restricted from participation due to regulatory requirements, with the jurisdiction listed among more than 30 locations subject to geoblocking measures.
However, the use of cryptocurrency wallets and decentralized access methods has made it difficult to verify user locations or identities, raising ongoing concerns for regulators. Singapore authorities reiterated that “no blocking method is foolproof” in a joint response from the Gambling Regulatory Authority of Singapore, Infocomm Media Development Authority and the Singapore Police Force.
The platform was formally blocked in December 2024 after authorities determined it was offering unlawful gambling services under local law. Singapore maintains a tightly controlled remote gambling regime, with Singapore Pools remaining the only authorized provider of online betting services.
Authorities warned that individuals who deliberately circumvent access restrictions may be committing an offence under the Gambling Control Act, carrying penalties of up to SGD10,000 ($7,800) in fines, six months’ imprisonment, or both.
The government has continued to step up enforcement efforts, with K. Shanmugam previously confirming that more than 3,800 illegal gambling websites had been blocked as of early 2025. By the end of 2024, over 145,000 illegal gambling transactions linked to Singapore had also been prevented, with a total value of approximately SGD37 million ($29.1 million).
Polymarket has previously hosted betting markets on major Singapore events including the Formula 1 Singapore Grand Prix, the 2023 Presidential Election and the 2025 General Election, with the latter reportedly attracting close to $720,000 in total wagers.
The platform has also drawn international scrutiny in recent months due to significant betting volumes on geopolitical events, including developments involving Iran, shortly before military action involving the United States and Israel.
Based in New York, Polymarket is backed by a number of high-profile investors, including Peter Thiel and Donald Trump Jr., the latter of whom serves as a strategic adviser to both Polymarket and Kalshi. Unlike Polymarket, Kalshi is federally regulated in the United States and facilitates transactions in fiat currency, although it is also blocked in Singapore.
