Indonesia Blocks Prediction Market Platform Polymarket, Designating It as Illegal Online Gambling
Odaily Odaily Planet Daily News The Indonesian Ministry of Communication and Digital Affairs recently blocked the prediction market platform Polymarket, designating it as an online gambling platform, as it provides betting and speculation on unresolved events, violating local laws.
Previously, Polymarket launched a betting market regarding when President Prabowo Subianto would leave office, whose term is originally scheduled until 2029. This contract was launched the day after Prabowo announced plans to centralize control over the export of bulk commodities such as coal and palm oil, and sparked discussions on local social media. Indonesian authorities also stated that they are investigating all social media accounts associated with Polymarket. (cointelegraph)
