Indonesia Bans Prediction Market Platform Polymarket for Illegal Gambling Activities

According to Reuters, Indonesia's Ministry of Communication and Digital Affairs has banned prediction market platform Polymarket on May 25, deeming it an illegal gambling platform due to offering "betting and speculation on unresolved events" that violate local law. The ban follows controversy over a prediction market contract on when President Prabowo Subianto will step down from his presidential term, originally set to end in 2029.
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