Polymarket has been restricted in Singapore as part of the country's measures against unauthorized gambling activities.
Polymarket operates on the Polygon
Several users reported being unable to access the site from within the country. Attempts to visit the platform now result in a warning message citing local gambling laws.
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The warning was issued by the Gambling Regulatory Authority (GRA). The GRA replaced the Casino Regulatory Authority to create a body overseeing all gambling activities. Its role includes managing evolving gambling trends and ensuring all operations comply with local laws.
The warning refers to Section 20 of the Gambling Control Act 2022. This law imposes penalties of up to 10,000 Singapore dollars, six months in prison, or both for gambling with unauthorized operators.
It also reminds users that Singapore Pools is the only licensed provider of online gambling services in the country.
On January 12, Alex Zuo, Vice President of Investment and Custody at Cobo Global, posted on X:
Polymarket is officially defined as a gambling website in Singapore. If you want to place a bet, you can only go to a state-owned gambling company. Otherwise, you will face fines and imprisonment.
As Polymarket faces restrictions in Singapore, Coinbase recently received a legal request related to Polymarket from CFTC. What was Coinbase's response? Read the full story.
