Indonesia blocks access to Polymarket, citing concerns that the platform functions as online gambling. Multiple outlets report that Indonesian authorities conclude the prediction market service is effectively a wagering product, even though it uses crypto and blockchain technology. Regulators are also described as broadening scrutiny of prediction market platforms globally as governments examine whether such services fall under existing gambling laws. The blocking is framed as part of a wider enforcement push against online betting in Indonesia, where gambling is illegal. One report links the action to bets related to the outcome of Indonesia’s presidential situation, including betting on a president’s exit, while others emphasize the general issue of regulated gambling and the substance of the offering rather than the technology used. Across sources, the core point is that Indonesian officials treat prediction markets that let users trade or place bets on uncertain events as gambling, leading to the platform being blocked. The reports do not indicate a decision on the underlying business model beyond the determination that it is illegal to operate in its current form.
Indonesia blocks Polymarket amid online gambling crackdown
Indonesia blocks access to Polymarket, citing concerns that the platform functions as online gambling. Multiple outlets report that Indonesian authorities conclude the prediction market service is eff...
- Indonesia blocks access to Polymarket.
- Authorities say the platform operates as online gambling under Indonesian law.
- The decision is linked to a broader crackdown on online betting.
- Regulators argue that using crypto or blockchain does not change the platform’s gambling nature.
- Some coverage connects the action to bets tied to political outcomes, including a president’s exit.
Authorities stated that using crypto or blockchain doesn't change platforms that let users wager on uncertain outcomes from being gambling products.
3 months agoIndonesia has blocked access to Polymarket after officials concluded that the prediction market platform operates as online gambling under national… Continue reading Indonesia blocks Polymarket amid expanding global pressure against prediction market platforms The post Indonesia blocks Polymarket amid expanding global pressure against prediction market platforms appeared first on ReadWrite.
3 months agoIndonesia blocked Polymarket over online gambling concerns as regulators widen global scrutiny of prediction market platforms.
3 months agoGambling is illegal in Indonesia and authorities have been clamping down on online betting.
3 months ago
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