Singapore Blocks Access to Polymarket, Raising Eyebrows on Gambling Regulations – BitRss

Internet users in Singapore are facing challenges accessing the popular blockchain-based prediction platform, Polymarket. According to Wu Blockchain’s posts on X, Polymarket has been classified as an illegal gambling site in Singapore. The Gambling Regulatory Authority (GRA) has restricted users from accessing the site.

Evaluated Under Gambling Laws

The Singapore Gambling Regulatory Authority announced that Polymarket operates as an unlicensed gambling service provider. Under Article 20 of the Gambling Control Act, individuals gambling on unlicensed platforms could face fines of up to 10,000 Singapore dollars or imprisonment for up to six months. Only the state-owned Singapore Pools has authorization to provide online betting and prediction services in Singapore.

Polymarket Access Block

The access block further demonstrates the stringent enforcement of gambling laws in the country. Moreover, attempts by users to access such platforms can lead to serious consequences. The Gambling Regulatory Authority aims to direct individuals seeking to gamble only to legal operators.

Warnings Issued to Users

As Polymarket users reacted to the platform’s classification under gamblin…