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Singapore Bans Polymarket Over Unlicensed Gambling Operations

  • Singapore has officially banned Polymarket, labeling it an illegal gambling platform.
  • Visitors to Polymarket's site in Singapore now face a warning from the Gambling Regulatory Authority (GRA) regarding potential penalties for engaging in unlicensed gambling.
  • Polymarket has also faced bans in France, the U.S., and Taiwan.
  • The decentralized prediction platform, Polymarket, allows users to place bets on real-world events using cryptocurrency, but Singapore mandates that online gambling services must obtain proper licensing.

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