Indonesia blocks prediction market platform Polymarket, classifying 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 because it provides betting and speculation on unresolved events, which violates local laws.

Previously, Polymarket launched a betting market on when President Prabowo Subianto would step down, whose term is originally scheduled until 2029. The contract was launched the day after Prabowo announced plans to centralize control over exports of bulk commodities such as coal and palm oil, sparking discussions on local social media. Indonesian authorities also stated that they are investigating all social media accounts associated with Polymarket. (Cointelegraph)