Legal

Singapore Blocks Polymarket for Illegal Gambling Activities

Singapore has blocked access to the Polymarket prediction platform as part of its efforts to tighten regulations on unlicensed gambling websites.

Polymarket Blocked in Singapore for Illegal Gambling

On January 12, 2025, the website for the prediction platform Polymarket was unexpectedly blocked in Singapore. The Gaming Regulatory Authority (GRA) issued a warning stating that Polymarket was operating as an illegal gambling platform. The notification appeared when users attempted to access the site.

The GRA’s message referenced Section 20 of the Gambling Control Act 2022, which designates Singapore Pools as the only licensed online gambling service provider in the country. The warning read:

“You have attempted to access an illegal gambling website operated by an unlicensed provider. Singapore Pools is the only licensed online gambling provider in Singapore.”

Under the act, individuals who engage in gambling with unlicensed providers face penalties of up to SGD 10,000 (about USD 7,300), up to six months in prison, or both. The penalties for organizing illegal gambling are even harsher, with fines up to SGD 500,000 (about USD 365,000) and imprisonment for up to seven years. For repeat offenders, the fine can increase to SGD 700,000 with up to ten years in prison.

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Singapore’s Crackdown on Illegal Gambling

The GRA has successfully restricted over 3,800 illegal gambling websites and blocked more than 145,000 illegal transactions totaling SGD 37 million (USD 2.7 million) since 2015.

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Polymarket Faces Legal Hurdles

Polymarket, a popular prediction platform, has faced legal challenges in multiple countries. In the United States, the FBI is investigating Polymarket over concerns it may have influenced the 2024 U.S. presidential election. In France, the platform was forced to restrict access in November 2024 following an investigation into a major payout to an investor. In Taiwan, Polymarket was banned in August 2024 after a user was charged for betting USD 530 on political elections.

Despite these regulatory hurdles, Polymarket continues to attract strong interest. As of January 2025, the platform recorded over USD 460 million in trading volume, with a significant portion focused on sports predictions, including betting on the Super Bowl 2025 and the English Premier League 2024-2025.

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