Indonesia Bans Crypto Prediction Platform Polymarket Over Gambling Concerns

POLYMARKET-15.24%
According to Indonesia's Ministry of Communication and Digital Affairs, the country formally blocked access to the crypto prediction platform Polymarket on May 23, citing strict national regulations prohibiting online and offline gambling. The ministry stated that platforms offering monetary wagers on specific outcomes or events remain classified as online gambling, regardless of blockchain or cryptocurrency packaging. "Activities like Polymarket contain elements of money gambling and speculation on uncertain events, which violate Indonesia's current laws," said Minister Alexander Sabar in the official statement.
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