Singapore bans Polymarket

Polymarket is a decentralized, blockchain-based platform for information markets, allowing users to trade on the outcomes of real-world events.

Essentially, it enables participants to express their opinions or predictions about various topics—such as politics, sports, finance, or global events—by buying or selling shares in the outcomes of specific questions.

Singapore says ‘No”. Singapore has joined the U.S., France, Taiwan, and other in restricting access to Polymarket.

• the site’s homepage on X shows 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.
• Singapore Pools, a state-owned lottery subsidiary which is the only licensed online gambling provider in Singapore, the notice states.

This article was written by Eamonn Sheridan at www.forexlive.com.