Singapore Blocks Polymarket as Part of Global Crackdown on Unlicensed Gambling

Singapore’s Gambling Regulatory Authority (GRA) has blocked access to Polymarket, a predictions market, citing its classification as an unlicensed online gambling platform under Singapore’s Gambling Control Act.

The Act imposes fines of up to $10,000, jail terms of up to six months, or both for offenders. This move aligns with Singapore’s broader effort to regulate gambling through expanded definitions, stricter penalties, and enhanced advertising rules, promoting responsible gambling practices while addressing illegal operations. Critics, however, argue that such measures may infringe on personal freedoms.

Clever Robot News Desk 16^th January 2025