Singapore Bans Polymarket Amid Online Gambling Crackdown
- Singapore has restricted access to Polymarket, joining the U.S., France, and Taiwan.
- Over 3,800 unlicensed gambling websites have been shut down in Singapore since the new year.
- The crackdown has blocked $37 million worth of transactions as of December last year.
- Violators using illegal gambling sites face fines up to $10,000 or six months in prison.
- Singapore Pools is the only licensed online gambling provider in Singapore.
Singapore has joined other countries in restricting access to Polymarket as part of a broader effort against unlicensed online gambling. This move comes after shutting down over 3,800 websites and blocking $37 million in transactions. Users are directed to use Singapore Pools for legal online betting options. Violations can result in significant fines or imprisonment.
