Indonesia Blocks Polymarket, Classifying It as Online Gambling
- Indonesia’s Ministry of Communication and Digital Affairs has blocked access to Polymarket, citing local gambling laws.
- The ministry is tracing affiliated social media accounts for potential restrictions on other digital channels.
- Polymarket allows users to trade contracts linked to real-world events, including elections and sports.
- This decision follows similar actions in India, which also blocked Polymarket under online gaming regulations.
- The Indonesian regulator warned against participation in digital betting activities involving crypto assets due to potential legal violations.
The Indonesian government is actively monitoring prediction market platforms that facilitate online gambling, signaling a broader regulatory trend across Asia against such services.
With the blocking of Polymarket, Indonesia joins India in restricting access to platforms classified as gambling, reflecting increasing scrutiny on crypto-based prediction markets.(Source)
