Another jurisdiction has Polymarket in its crosshairs. Over the weekend, Singapore’s Gambling Regulatory Authority (GRA) ordered local ISPs to block access to the prediction market platform, according to reports from users in the city-state.
“You have attempted to access an illegal gambling site hosted by an unlicensed gambling service provider,” reads the notice, which warns that those found guilty of gambling with unlicensed service providers are liable to a fine of up to SGD 10,000 ($7200) or a prison sentence up to 6 months.
The GRA has yet to issue a public notice on the matter, nor have they taken any enforcement action against Polymarket, according to a public record.
Taiwan was the first jurisdiction to actively block its nationals from using the prediction market platform, and local law enforcement arrested 17 people on the island for betting on its recent presidential election.
The local Taiwanese election law specifically prohibits betting on the election outcome.
Polymarket has also been the target of gambling authorities in France, blocking users in the country from accessing the platform.
Recently, the US Commodity Futures Trading Commission subpoenaed Coinbase looking for information about US citizens trading on Polymarket as part of an ongoing investigation.
