Singapore has become the latest international jurisdiction to restrict access to prediction marketplace Polymarket, joining the U.S., France, Taiwan, and others.
Singaporean users first reported difficulty in accessing the site on Jan. 12. Screenshots of the site's homepage posted on X show a notice from Singapore's Gaming Regulatory Authority (GRA) warning users that Polymarket is considered illegal and violators may be subject to a $10,000 fine, 6 months in prison, or both.
Users in Singapore who wish to bet online must use Singapore Pools, a state-owned lottery subsidiary which is the only licensed online gambling provider in Singapore, the notice states.
The new restriction comes in the wake of a national crackdown on unlicensed online gambling providers which has seen over 3,800 websites shuttered and $37 million worth of transactions blocked as of Dec. 31 of last year, according to Singapore's Home Affairs Minister. The GRA and Polymarket did not immediately respond to requests for comment.
Other jurisdictions around the world have also taken a closer look at Polymarket's legality after its popularity soared during the 2024 presidential election.
Taiwan restricted access to Polymarket in 2024, and even prosecuted a man who used the site to place around $530 worth of bets on political elections, according to the Liberty Times. Other jurisdictions where Polymarket has been banned by regulators include France and the U.S., and its terms of service prohibit users from countries such as Bolivia, Venezuela, Iran, and more.
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