Indonesia Blocks Polymarket Over Alleged Online Gambling

BlockBeats News, May 25th - According to Indonesia's national news agency ANTARA, the Indonesian Ministry of Communication and Information Technology has blocked the prediction market platform Polymarket, citing that the platform is suspected of conducting online gambling activities under the guise of a "prediction market."

Alexander Sabar, the Director General of Digital Space Oversight at the Indonesian Ministry of Communication and Information Technology, stated that platforms like Polymarket, despite using blockchain technology and cryptographic assets, are actually involved in placing monetary bets and speculation on the outcomes of uncertain events, thereby violating Indonesian laws. The ministry announced that in addition to blocking the Polymarket website, it is also tracking associated social media accounts and will continue to block platforms suspected of providing similar services.