#Singapore Locks Down Polymarket#
Hot Topic Overview
Overview
Singaporean authorities have blocked prediction market platform Polymarket, citing violations of the ** Gambling Control Act 2022 **, which prohibits betting with unlicensed operators. The Singapore government is cracking down on online gambling sites nationwide, with Polymarket becoming the latest victim. Singaporean users report being unable to access Polymarket, suggesting the platform has been blocked.
Ace Hot Topic Analysis
Analysis
Singapore authorities have blocked the prediction market platform Polymarket, citing concerns that it may violate the country’s gambling regulations. The authorities believe that Polymarket operates similar to an unlicensed gambling operator, as users can earn rewards by predicting the outcomes of future events. According to Singapore’s Gambling Control Act 2022, any act of betting with unlicensed operators is illegal. Therefore, Singapore authorities took the step of blocking Polymarket to prevent its operation within the country. This incident has sparked discussions on the regulation of prediction markets, highlighting the efforts of governments worldwide in cracking down on illegal gambling activities.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Singapore
blocks
Polymarket
market
to
crack
down
on
unlicensed
gambling
,
Singapore
government
believes
Polymarket
violates
the
Gambling
Control
Act
2022
,
Singapore
government
is
cracking
down
on
online
gambling
websites
nationwide
,
Polymarket
users
in
Singapore
cannot
access
the
platform