Singapore has joined the United States, France, Taiwan, and other countries in restricting access to Polymarket, a blockchain-based platform that allows users to trade on the outcomes of real-world events.
Polymarket enables users to express opinions or predictions on various topics, including politics, sports, finance, and global events, by trading shares based on the anticipated outcomes of specific questions.
Singapore Pools is the sole authorized online gambling provider within Singapore.
Following reports of access issues on January 12th, a notice from the Singaporean Gaming Regulatory Authority (GRA) appeared on Polymarket’s homepage, declaring the platform illegal.
This notice warns users of potential penalties, including fines up to S$10,000, imprisonment for up to six months, or both.
