Indonesia Blocks Prediction Market Platform Polymarket, Classifies It as Illegal Online Gambling

Odaily Planet Daily News: Indonesia's Ministry of Communication and Digital Affairs has recently blocked the prediction market platform Polymarket, classifying it as an online gambling platform, as it offers betting and speculation on unresolved events, violating local laws.

Previously, Polymarket had launched a betting market on when President Prabowo Subianto would step down, despite his term originally being set until 2029. The contract went live the day after Prabowo announced plans to centralize control over the export of commodities such as coal and palm oil, sparking discussions on local social media. Indonesian authorities also stated they are investigating all social media accounts associated with Polymarket. (Cointelegraph)