Thailand Considers Ban on Polymarket Amid Global Crackdown
- Thailand’s cybercrime bureau announced plans to ban Polymarket, a decentralized prediction marketplace.
- The platform is classified as an illegal gambling website by Thai authorities due to its use of cryptocurrencies for bets.
- Singapore banned access to Polymarket on January 12, with penalties including fines and imprisonment.
- The U.S., France, and Taiwan have also taken action against the platform, citing legal violations.
- Taiwan prosecuted a user for placing a $530 bet on Polymarket, demonstrating strict enforcement.
Thailand joins countries like Singapore, the U.S., France, and Taiwan in targeting Polymarket due to concerns over unregulated cryptocurrency-based betting. The global effort highlights increasing restrictions on such platforms.
