Indonesia blocks prediction market platform Polymarket, classifying it as an illegal online gambling platform

Odaily Planet Daily reports that Indonesia's Ministry of Communication and Digital Affairs has recently blocked the prediction market platform Polymarket, classifying it as an online gambling platform for offering betting and speculation on unresolved events, in violation of local laws.

Previously, Polymarket had launched a betting market on when President Prabowo Subianto would leave office, whose term was originally set to last until 2029. The contract went live the day after Prabowo announced plans to centralize control over exports of key commodities like 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)