Polymarket Declared Illegal in Singapore by Gambling Authorities
- Polymarket has been declared illegal in Singapore due to gambling regulations.
- Singapore’s Gambling Regulatory Authority (GRA) warns against using unlicensed gambling sites.
- Offenders may face fines up to 310,000 SGD or imprisonment for up to five months.
- Polymarket is also inaccessible to U.S. users due to federal laws.
- The U.S. Department of Justice is investigating Polymarket for potential legal breaches.
The GRA’s declaration of Polymarket as illegal highlights the strict enforcement of gambling laws in Singapore, with penalties reaching up to 310,000 SGD in fines or five months’ imprisonment for offenders.
